STABLE Act of 2025

Summary

Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 or the STABLE Act of 2025 This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must redeem for a fixed value). Under the bill, only permitted issuers may issue a payment stablecoin in the United States, subject to certain exceptions. Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer. Permitted issuers must be regulated by the appropriate federal or state regulator. A state regulator must certify that the state regulatory regime meets or exceeds federal requirements as established by the bill.  Permitted issuers must maintain reserves backing the stablecoin on a one-to-one basis using U.S. currency or other similarly liquid assets, as specified. Permitted issuers must also publicly disclose their redemption policy and publish monthly the details of their reserves. The bill specifies requirements for (1) reusing reserves; (2) providing safekeeping services for stablecoins; and (3) supervisory, examination, and enforcement authority over federal-qualified issuers. The bill places a two-year moratorium on new endogenously collateralized stablecoins (i.e., stablecoins that rely on the value of another digital asset created or maintained by the same originator to maintain the fixed price). Under the bill, permitted payment stablecoins are not considered securities under securities law. However, permitted issuers are subject to the Bank Secrecy Act for anti-money laundering and related purposes.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 March 2025

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 26 March 2025

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 March 2025

   Introduced

   Introduced in House

   Source: IntroReferral

4. 2 April 2025

   Vote

   Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 17.

   Source: Committee

5. 2 April 2025

   Committee

   Committee Consideration and Mark-up Session Held

   Source: Committee

6. 6 May 2025

   Calendars

   Placed on the Union Calendar, Calendar No. 68.

   Source: Calendars

7. 6 May 2025

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 119-94.

   Source: Committee

8. 6 May 2025

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 119-94.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Reported in House

  Reported in House · EN · 6 May 2025

  ViewDownloadOpen at official source

• Introduced in House

  Introduced in House · EN · 26 March 2025

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 26 March 2025

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Steil, Bryan [R-WI-1] · R · Sponsor
• Rep. Hill, J. French [R-AR-2] · R · Sponsor
• Rep. Torres, Ritchie [D-NY-15] · D · Sponsor
• Rep. Emmer, Tom [R-MN-6] · R · Sponsor
• Rep. Huizenga, Bill [R-MI-4] · R · Sponsor
• Rep. Meuser, Daniel [R-PA-9] · R · Sponsor
• Rep. Kim, Young [R-CA-40] · R · Sponsor
• Rep. Moore, Tim [R-NC-14] · R · Sponsor
• Rep. Downing, Troy [R-MT-2] · R · Sponsor
• Rep. Haridopolos, Mike [R-FL-8] · R · Sponsor
• Rep. Gottheimer, Josh [D-NJ-5] · D · Sponsor
• Rep. Liccardo, Sam T. [D-CA-16] · D · Sponsor
• Rep. Timmons, William R. [R-SC-4] · R · Cosponsor
• Rep. Lawler, Michael [R-NY-17] · R · Cosponsor
• Rep. Nunn, Zachary [R-IA-3] · R · Cosponsor
• Rep. Rose, John W. [R-TN-6] · R · Cosponsor
• Rep. Stutzman, Marlin A. [R-IN-3] · R · Cosponsor
• Rep. Thanedar, Shri [D-MI-13] · D · Cosponsor
• · hsba00 · Standing

Related records

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