3.0.0 8827 2023-01-11T13:44:14Z 2023-01-11T13:44:14Z House HR 2020-11-30 116 [Congressional Record Volume 166, Number 201 (Monday, November 30, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. TLAIB:H.R. 8827.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, clause and Article I, Section 8,clause 3[Page H6025]]]> hsba00 Financial Services Committee House Standing Referred to 2020-11-30T19:00:25Z 2020-11-30 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2020-11-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-11-30 Introduced in House IntroReferral 1000 9 Library of Congress T000481 Rep. Tlaib, Rashida [D-MI-13] Rashida Tlaib D MI 13 N L000562 Rep. Lynch, Stephen F. [D-MA-8] Stephen Lynch D MA F. 8 2020-11-30 True G000586 Rep. Garcia, Jesus G. "Chuy" [D-IL-4] Jesus Garcia D IL G. 4 2020-11-30 True Finance and Financial Sector Administrative remedies Banking and financial institutions regulation Civil actions and liability Currency Digital media Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Financial crises and stabilization International monetary system and foreign exchange Securities Finance and Financial Sector 00 2020-11-30 Introduced in House 2021-04-20T18:10:33Z Stablecoin Classification and Regulation Act of 2020

This bill provides for the regulation of stablecoins, a type of privately issued digital currency whose value is pegged to a currency such as the U.S. dollar. Issuers of stablecoins must be a member of the Federal Reserve System, and must seek prior approval from the Federal Reserve, the Federal Deposit Insurance Corporation, and the appropriate banking agency for the offering of stablecoins. Issuers of stablecoins are subject to oversight by the appropriate banking agency, including with respect to capital adequacy, leverage, and permitted activities.

Furthermore, issuers of stablecoins must be able to redeem all outstanding stablecoins at their nominal redemption value in U.S. dollars upon demand.

]]> Stablecoin Classification and Regulation Act of 2020 Display Title Stablecoin Classification and Regulation Act of 2020 Short Title(s) as Introduced Stablecoin Classification and Regulation Act of 2020 Introduced in House IH Official Title as Introduced To amend the Federal Deposit Insurance Act to provide for the classification and regulation of stablecoins, and for other purposes. Introduced in House IH Introduced in House 2020-11-30T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr8827ih/xml/BILLS-116hr8827ih.xml 2020-11-30 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.