#USStablecoinBill
The US Stablecoin Bill, also known as the Lummis-Gillibrand Payment Stablecoin Act (S.4155), is a piece of legislation aimed at regulating stablecoins in the United States. Here are some key points about the bill ¹:
- *Purpose*: The bill focuses on payment stablecoins, which are digital assets designed to maintain a stable value relative to a fiat currency, such as the US dollar.
- *Regulatory Framework*: The proposed legislation outlines a regulatory framework for stablecoin issuers, including requirements for reserve assets, disclosure, and oversight.
- *Legislative Progress*: The bill was introduced in the current Congress and is currently under consideration.
- *Key Provisions*:
- *Reserve Requirements*: The bill specifies the types of assets that stablecoin issuers must hold in reserve to back their coins.
- *Disclosure Requirements*: Issuers would be required to provide transparent disclosure about their reserve assets and other relevant information.
- *Oversight*: The bill outlines the roles of regulatory agencies, such as the Federal Reserve and state financial regulators, in overseeing stablecoin issuers.
Overall, the Lummis-Gillibrand Payment Stablecoin Act aims to provide clarity and stability to the stablecoin market in the United States, while also protecting consumers and maintaining financial stability.
