WASHINGTON, DC (May 14, 2026) |
The Defense Credit Union Council (DCUC) sent a letter to the Senate Committee on Banking, Housing, and Urban Affairs expressing support for the Committee’s efforts to establish a balanced digital asset market structure framework while urging targeted refinements to ensure federally insured credit unions are fully included on equal footing with banks.
DCUC, which represents defense credit unions serving more than 40 million members worldwide, commended the legislation’s focus on responsible innovation, consumer protection, anti-money laundering safeguards, and operational integrity across the evolving digital asset marketplace.
DCUC expressed support for Section 401, which would provide long-needed statutory clarity allowing federal credit unions to utilize digital assets and distributed ledger technology in activities already authorized under the Federal Credit Union Act.
“If Congress gives credit unions a clear, workable, and fair pathway into digital-asset services,
millions of Americans will be able to access these services through institutions that are trusted, member-owned, and deeply invested in financial education and fraud prevention,” wrote Jason Stverak, DCUC Chief Advocacy Officer.
DCUC also urged lawmakers to strengthen the bill by explicitly including the National Credit Union Administration (NCUA) wherever federal prudential regulators are referenced and ensuring federally insured credit unions and credit union service organizations (CUSOs) receive the same operational clarity afforded to banks and their affiliates.
“Credit unions should not be left navigating regulatory uncertainty while banks receive clear statutory authority to innovate,” says Anthony Hernandez, DCUC President/CEO, Ret. U.S. Air Force Colonel. “A truly balanced framework must preserve consumer protections while ensuring credit unions can compete fairly, responsibly, and safely in the next generation of financial services.”
Additionally, DCUC encouraged Congress to adopt tiered compliance standards and safe harbors reflecting institutional size, complexity, and actual risk exposure, warning that a one-size-fits-all approach could disproportionately burden smaller and mission-driven financial institutions.
“We’re calling for stronger parity regarding payment rails, custody treatment, stablecoin protections, and digital infrastructure access to ensure credit unions are not placed at a competitive disadvantage as financial technologies evolve,” adds Stverak.
DCUC expressed its commitment to working collaboratively with lawmakers and regulators to advance policies that strengthen financial readiness, consumer protection, and innovation within the regulated financial system.