Stablecoin Transparency Act
Bill journey · stage 1 of 5
Just introduced
What it doesSummary introduced in senate (Mar 31, 2022)
Stablecoin Transparency Act
This bill requires a stablecoin issuer to hold all reserves associated with each fiat currency-backed stablecoin they issue in (1) certain government securities; (2) fully collateralized security repurchase agreements, or (3) U.S. dollars or other nondigital currency. A fiat currency-backed stablecoin is a digital asset backed by a nondigital currency and is redeemable on a one-to-one basis in that currency.
Each stablecoin issuer must publish monthly on their website a report on the reserves held by the issuer that has been audited by a third party.
What just happenedMay 10, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-655.
Who’s behind it
- Introduced in SenateMar 31, 2022
- May 10, 2022Committee
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-655.
Banking, Housing, and Urban Affairs Committee - Mar 31, 2022IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - Mar 31, 2022IntroReferral10000
Introduced in Senate