# NCUA Proposes 26 Stablecoin Reporting Accounts for Credit Unions

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/29958
Published: 2026-10-12T00:21:33.000Z
Updated: 2026-10-12T00:21:33.000Z
Section: Regulation

> The proposed Schedule J would track reserve custody, key control, issuer exposure and stablecoins held on credit union balance sheets beginning with the March 31, 2027, report date.

The National Credit Union Administration has proposed 26 new stablecoin reporting accounts for credit unions, creating a detailed framework for tracking custody, issuer exposure and balance-sheet holdings as federal rules take shape.

The proposed “Schedule J, Payment Stablecoin Activities,” would be added to Form 5300 Call Reports. The accounts would include eight for reserve-asset custody, nine for cryptographic-key custody and control, five for direct exposure to permitted payment stablecoin issuers, and four for payment stablecoins held on credit union balance sheets.

The reporting changes are proposed to begin with the March 31, 2027, report date. Comments are due Dec. 8, 2026. The proposed revisions would not materially affect existing burden estimates.

The NCUA estimates that 4,224 respondents would spend an average of 47 hours per response, producing a total annual burden of 794,112 hours.

The proposal follows the GENIUS Act, which became law July 18, 2025. The law established a federal framework for payment stablecoins and assigns the NCUA responsibility for subsidiaries of insured credit unions seeking to issue payment stablecoins.

The NCUA proposed issuer rules on Feb. 11 and May 15, 2026. The May proposal covered operational and risk-management standards, with its comment period closing July 17.

America’s Credit Unions is advocating a role for credit unions in the emerging U.S. stablecoin framework and has called for flexibility and regulatory clarity in digital-asset participation.

“The NCUA's issuance of a proposed rule to implement GENIUS Act provisions is a positive step, and we appreciate the NCUA's willingness to offer a clarifying statement on the permissibility of offering tokenized shares,” Kathleen Coulombe, chief advocacy officer at America’s Credit Unions, said.

“As trusted financial partners, credit unions are poised to support innovation and adoption within the digital assets marketplace,” Coulombe said.

NCUA Chairman Kyle Hauptman said the proposed rule supports comparable treatment for credit unions.

“This proposed rule supports my view that credit unions will face no disadvantage compared to other entities regarding standards,” Hauptman said.

The text of H.R. 3633, known as the CLARITY Act of 2025, would exclude permitted payment stablecoins from the proposed definition of “digital commodity.” The measure’s text forms part of the broader U.S. debate over digital-asset rules, alongside the stablecoin framework established by the GENIUS Act.

The NCUA’s reporting proposal remains subject to public comment, with submissions due Dec. 8, 2026.