Federal Stablecoin Legislation Continues to Move Through Congress
Efforts to establish a federal payments stablecoin regime have continued to advance in both House and Senate.
Legislation establishing a federal regime for payment stablecoins has continued to advance in both the House and Senate. The proposals broadly require full reserve backing in high-quality liquid assets, monthly disclosures and a choice of state or federal chartering for issuers.
Industry groups have supported the framework, arguing that it would provide legal certainty for both US-based issuers and non-US issuers seeking access to the US market. Some consumer protection advocates have pressed for stronger custody safeguards.
Passage timelines remain uncertain and depend on how the legislation is packaged with other financial services priorities.
