DTIF critiques NCUA’s Proposed Regulations to enact GENIUS Act
17 April 2026 US, UK
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The Digital Token Identifier Foundation (DTIF) has criticised a gap in the National Credit Union Administration’s (NCUA) Proposed Rule regulations to implement portions of the GENIUS Act.
The DTIF, the registration authority for the Digital Token Identifier (DTI) standard, says the proposed rule lacks a requirement that an Applying Issuer uniquely identify, using a standardised and verifiable code, the payment stablecoin(s) it proposes to issue.
DTIF recommends that NCUA addresses this gap through the Payment Stablecoin Issuer Manual and Subpart B rulemaking.
DTIF proposes that the NCUA considers requiring Applying Issuers to obtain and disclose a DTI (ISO 241 65) code for each payment stablecoin for the application process, with guidance offered in the Manual.
It also requests NCUA necessitates DTI, in the NCUA’s Credit Union Service Organisation (CUSO)/ Permitted Payment Stablecoin Issuers (PPSI) Registry entry for each licensed PPSI.
Additionally it asks the requirement of PPSIs to use DTI codes as the primary identifier in the monthly reserve reports, redemption policy disclosures, and regulatory filings.
The DTIF requires DTI registration as part of the application process, adding a DTI field to the PPSI Registry, and committing to a DTI requirement in the forthcoming Subpart B rulemaking.
The DTIF says these steps would strengthen the identification, reserve reporting, and supervisory infrastructure the GENIUS Act demands, at minimal cost to applicants of the NCUA.
Additionally the body says it would align the US framework with international best practice and reduce compliance burden for PPSIs operating across jurisdictions.
The GENIUS Act charges the NCUA with licensing, regulating, and supervising payment stablecoin issuers that are subsidiaries of federally insured credit unions (FICU subsidiaries).
The NCUA’s proposed rule puts forward regulations to enforce the statutorily required process for approval and licensure of permitting payment stablecoin issuers (PPSIs) subject to the NCUA’s jurisdiction.
The GENIUS Act also requires the NCUA to issue implementing regulations by 18 July 2026.
The DTIF, the registration authority for the Digital Token Identifier (DTI) standard, says the proposed rule lacks a requirement that an Applying Issuer uniquely identify, using a standardised and verifiable code, the payment stablecoin(s) it proposes to issue.
DTIF recommends that NCUA addresses this gap through the Payment Stablecoin Issuer Manual and Subpart B rulemaking.
DTIF proposes that the NCUA considers requiring Applying Issuers to obtain and disclose a DTI (ISO 241 65) code for each payment stablecoin for the application process, with guidance offered in the Manual.
It also requests NCUA necessitates DTI, in the NCUA’s Credit Union Service Organisation (CUSO)/ Permitted Payment Stablecoin Issuers (PPSI) Registry entry for each licensed PPSI.
Additionally it asks the requirement of PPSIs to use DTI codes as the primary identifier in the monthly reserve reports, redemption policy disclosures, and regulatory filings.
The DTIF requires DTI registration as part of the application process, adding a DTI field to the PPSI Registry, and committing to a DTI requirement in the forthcoming Subpart B rulemaking.
The DTIF says these steps would strengthen the identification, reserve reporting, and supervisory infrastructure the GENIUS Act demands, at minimal cost to applicants of the NCUA.
Additionally the body says it would align the US framework with international best practice and reduce compliance burden for PPSIs operating across jurisdictions.
The GENIUS Act charges the NCUA with licensing, regulating, and supervising payment stablecoin issuers that are subsidiaries of federally insured credit unions (FICU subsidiaries).
The NCUA’s proposed rule puts forward regulations to enforce the statutorily required process for approval and licensure of permitting payment stablecoin issuers (PPSIs) subject to the NCUA’s jurisdiction.
The GENIUS Act also requires the NCUA to issue implementing regulations by 18 July 2026.
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