legislation: 117-s-5340

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
117-s-5340 117 s 5340 Stablecoin TRUST Act of 2022 Finance and Financial Sector 2022-12-21 2022-12-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Toomey, Patrick [R-PA] PA R T000461 0 Stablecoin Transparency of Reserves and Uniform Safe Transactions Act of 2022 or the Stablecoin TRUST Act of 2022 This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must directly convert to fiat currency). Specifically, the bill only allows the following entities to issue stablecoins a money transmitting business, a non-depository trust company, or any other person that is authorized by a state banking supervisor to issue payment stablecoins; a national limited payment stablecoin issuer; a depository institution; or a national trust bank. 2023-08-29T15:45:29Z  

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