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United States of America: Stablecoin TRUST Act 2022

Progress

Current status
rejected
03 Jan 2023 rejected
21 Dec 2022 under deliberation
06 Apr 2022 under deliberation

Scope

Implementers
United States of America
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
legislature
Government Body
parliament
Implementation Level
national

Timeline of events

03 Jan 2023
rejected

Rejected Stablecoin TRUST Act of 2022

On 3 January 2023, the “Stablecoin Transparency of Reserves and Uniform Safe Transactions Act of 2022’’ (Stablecoin TRUST Act of 2022) was rejected after failing to pass before the 117th Congress adjourns.

Source
Event type law
Action type rejection
Government branch legislature
Government body parliament
21 Dec 2022
under deliberation

Introduced Stablecoin TRUST Act of 2022

On 21 December 2022, US Senate Banking Committee Ranking Member Pat Toomey introduced the "Stablecoin TRUST Act of 2022" (S.5340), which provides a regulatory framework regarding the issuance of stablecoins as well as related consumer protection. Th…

Source
Event type law
Action type introduction
Government branch legislature
Government body parliament
06 Apr 2022
under deliberation

Announcement of Stablecoin TRUST Act of 2022

On 6 April 2022, US Senate Banking Committee Ranking Member Pat Toomey released the initial draft of the "Stablecoin TRUST Act of 2022", which provides a regulatory framework regarding the issuance of stablecoins as well as related consumer protecti…

Source
Event type law
Action type announcement
Government branch legislature
Government body parliament