3.0.0 5340 2023-08-29T15:45:29Z 2023-08-29T15:45:29Z Senate S 2022-12-21 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2022-12-21T19:41:34Z 2022-12-21 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2022-12-21 Introduced in Senate IntroReferral 10000 9 Library of Congress T000461 Sen. Toomey, Patrick [R-PA] Patrick Toomey R PA J. N Finance and Financial Sector Finance and Financial Sector 00 2022-12-21 Introduced in Senate 2023-08-29T15:41:33Z Stablecoin Transparency of Reserves and Uniform Safe Transactions Act of 2022 or the Stablecoin TRUST Act of 2022

This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must directly convert to fiat currency). Specifically, the bill only allows the following entities to issue stablecoins

  • a money transmitting business, a non-depository trust company, or any other person that is authorized by a state banking supervisor to issue payment stablecoins;
  • a national limited payment stablecoin issuer;
  • a depository institution; or
  • a national trust bank.
]]> Stablecoin TRUST Act of 2022 Display Title Stablecoin TRUST Act of 2022 Short Title(s) as Introduced Stablecoin TRUST Act of 2022 Introduced in Senate IS Short Title(s) as Introduced Stablecoin Transparency of Reserves and Uniform Safe Transactions Act of 2022 Introduced in Senate IS Official Title as Introduced A bill to provide a regulatory framework and consumer protections for the issuance of payment stablecoins, and for other purposes. Introduced in Senate IS Introduced in Senate 2022-12-21T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s5340is/xml/BILLS-117s5340is.xml 2022-12-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.