3.0.0 7328 2023-08-19T01:00:26Z 2023-08-19T01:00:26Z House HR 2022-03-31 117 [Congressional Record Volume 168, Number 57 (Thursday, March 31, 2022)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HOLLINGSWORTH:H.R. 7328.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, of the U.S. Constitution.[Page H4074]]]> hsba00 Financial Services Committee House Standing Referred to 2022-03-31T14:02:50Z Stablecoin Transparency Act 117 3970 S 2022-05-10 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS To establish reporting requirements for persons who issue fiat currency-backed stablecoins, and for other purposes. 117 8498 HR 2022-07-26 Referred to the House Committee on Financial Services. Related bill CRS 2022-03-31 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2022-03-31 Introduced in House IntroReferral Intro-H 9 Library of Congress 2022-03-31 Introduced in House IntroReferral 1000 9 Library of Congress H001074 Rep. Hollingsworth, Trey [R-IN-9] Trey Hollingsworth R IN 9 N Finance and Financial Sector Bank accounts, deposits, capital Business records Currency Digital media Financial services and investments Securities Finance and Financial Sector 00 2022-03-31 Introduced in House 2022-05-17T20:22:09Z 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, and (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.

]]> Stablecoin Transparency Act Display Title Stablecoin Transparency Act Short Title(s) as Introduced Stablecoin Transparency Act Introduced in House IH Official Title as Introduced To establish reporting requirements for issuers of fiat currency-backed stablecoins, and for other purposes. Introduced in House IH Introduced in House 2022-03-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr7328ih/xml/BILLS-117hr7328ih.xml 2022-03-31 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.