On April 2, 2025, the "Stablecoin Accountability Act" was passed by the U.S. House Financial Services Committee. This act establishes a clear regulatory framework for the issuance and operation of payment stablecoins, aiming to ensure transparency, accountability, and consumer protection while promoting the use of stablecoins in the digital economy. The act defines payment stablecoins, requires issuers to obtain licenses, and mandates that they hold equivalent reserve assets. Additionally, the act stipulates the reporting obligations of issuers, the supervisory powers of regulatory agencies, and penalties for violations.