legislation: 117-s-3970
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
This data as json
| bill_id | congress | bill_type | bill_number | title | policy_area | introduced_date | latest_action_date | latest_action_text | origin_chamber | sponsor_name | sponsor_state | sponsor_party | sponsor_bioguide_id | cosponsor_count | summary_text | update_date | url |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 117-s-3970 | 117 | s | 3970 | Stablecoin Transparency Act | Finance and Financial Sector | 2022-03-31 | 2022-05-10 | Committee on Banking, Housing, and Urban Affairs. Hearings held. | Senate | Sen. Hagerty, Bill [R-TN] | TN | R | H000601 | 0 | 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. | 2022-12-29T22:48:21Z | https://www.congress.gov/bill/117th-congress/senate-bill/3970 |