America’s Credit Unions, led by Chief Advocacy Officer Kathleen Coulombe, is pushing for credit unions to have the same digital asset opportunities as banks before Congress finalizes stablecoin regulations. The group has flagged a deposit flight risk if stablecoin yields consistently outperform what credit unions can offer, and is concerned that the regulatory framework may prevent them from competing with their own stablecoin products. The GENIUS Act designates the NCUA as the supervisory authority for credit unions acting as stablecoin issuers or custodians. The NCUA proposed in October 2026 to add 26 new stablecoin-specific accounts to the quarterly Call Reports, with comments due by December 8, 2026 and implementation targeted for March 2027.
Source: Read the original article
