A bill to provide for the regulation of payment stablecoins, and for other purposes.

Hozzl · 2025-02-05T11:56:18Z

Explore the details of Senate Bill 394 A bill to provide for the regulation of payment stablecoins, and for other purposes. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

2/5/2025, 11:56 AM

Summary of Bill S 394

Bill 119 s 394, also known as the "Payment Stablecoin Regulation Act," is a piece of legislation introduced in the US Congress. The main purpose of this bill is to establish regulations for payment stablecoins, which are a type of cryptocurrency that is pegged to a stable asset, such as the US dollar.

The bill aims to address concerns about the potential risks and challenges posed by the use of stablecoins in the financial system. It seeks to ensure that stablecoin issuers are subject to appropriate regulatory oversight and that stablecoins are backed by sufficient reserves to maintain their stability.

Under the provisions of the bill, stablecoin issuers would be required to obtain a license from the appropriate regulatory authority and comply with certain reporting and disclosure requirements. The bill also includes provisions for the protection of consumers and the prevention of money laundering and other illicit activities. Overall, the Payment Stablecoin Regulation Act is intended to provide a framework for the regulation of stablecoins in order to promote financial stability and protect consumers. It is currently being considered by Congress and may undergo further revisions before being enacted into law.

Current Status of Bill S 394

Bill S 394 is currently in the status of Bill Introduced since February 4, 2025. Bill S 394 was introduced during Congress 119 and was introduced to the Senate on February 4, 2025. Bill S 394's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of February 4, 2025

Bipartisan Support of Bill S 394

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Unaffiliated Sponsors

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Policy Area and Potential Impact of Bill S 394

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Alternate Title(s) of Bill S 394

A bill to provide for the regulation of payment stablecoins, and for other purposes.A bill to provide for the regulation of payment stablecoins, and for other purposes.

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