Shaneka Malcom IMo3

#USStablecoinBill The #USStablecoinBill, also known as the Clarity for Payment Stablecoins Act, aims to establish a regulatory framework for stablecoins in the United States. Here are some key aspects ¹: - *Definition and Scope*: The bill clarifies the definition of payment stablecoins and outlines the requirements for their issuance and use. - *Regulatory Oversight*: The bill proposes regulatory oversight by federal agencies, including the Federal Reserve and the Office of the Comptroller of the Currency. - *Reserve Requirements*: The bill may require stablecoin issuers to maintain sufficient reserves to back their stablecoins. - *Consumer Protection*: The bill aims to protect consumers by ensuring transparency and stability in the stablecoin market. *Key Provisions:* - *Permitted Activities*: The bill outlines permitted activities for stablecoin issuers and custodians. - *Disclosure Requirements*: The bill requires stablecoin issuers to disclose information about their reserves and operations. - *Risk Management*: The bill may require stablecoin issuers to implement risk management practices to mitigate potential risks. *Status:* - *Introduced in Congress*: The bill was introduced in the House of Representatives (H.R. 4766) in the 118th Congress (2023-2024). - *Pending Review*: The bill is currently pending review by the relevant committees.