Implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act for the Issuance of Stablecoins by Entities Subject to the Jurisdiction of the NCUA

XBRL US, a nonprofit data standards organization, supports the proposed rule but urges the NCUA to require disclosures in a structured, machine-readable (XBRL) format. They argue that using XBRL and the Legal Entity Identifier (LEI) will improve data quality, transparency, and interoperability while reducing the reporting burden for stablecoin issuers.

The International Organization for Standardization (ISO) Standards Advisory Group (SAG) supports the proposed action and recommends incorporating specific international standards, such as the Legal Entity Identifier (LEI) and Digital Token Identifier (DTI), into the rulemaking. They argue that these standards will improve interoperability, reduce regulatory fragmentation, and provide a robust framework for identifying entities and assets to mitigate fraud and ensure consistent reporting across different jurisdictions and regulators.

The Global Legal Entity Identifier Foundation (GLEIF) supports the proposed rule and urges the NCUA to incorporate the Legal Entity Identifier (LEI) and its verifiable counterpart (vLEI) into the stablecoin reporting standards. They argue that using the LEI will promote transparency, ensure regulatory consistency across different federal agencies, and reduce the compliance burden for digital asset market participants.

The Digital Token Identifier Foundation (DTIF) expresses broad support for the proposed rule while advocating for the inclusion of the ISO 24165 Digital Token Identifier (DTI) standard. They argue that requiring a standardized, unique identifier for payment stablecoins is essential for market interoperability, accurate reporting, and fraud prevention.

The Association of National Numbering Agencies (ANNA) supports the proposed action, specifically advocating for the use of internationally recognized, technology-neutral ISO identification standards (such as ISIN, CFI, and FISN) to promote interoperability and transparency in the payment stablecoin market. They argue that leveraging existing global standards rather than creating new proprietary frameworks will reduce costs, facilitate innovation, and ensure consistency across jurisdictions.

The Association of National Numbering Agencies (ANNA) supports the proposed action, specifically advocating for the use of internationally recognized, technology-neutral ISO identification standards (such as ISIN, CFI, and FISN) to promote interoperability and transparency in the payment stablecoin market. They argue that leveraging existing global standards rather than creating new proprietary frameworks will reduce costs, facilitate innovation, and ensure consistency across jurisdictions.