United States of America: Rejected Stablecoin TRUST Act of 2022

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Description

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.

Original source

Scope

Policy Area

Authorisation, registration and licensing

Policy Instrument

Operational license requirement

Regulated Economic Activity

digital payment provider (incl. cryptocurrencies)

Implementation Level

national

Government Branch

legislature

Government Body

parliament

Complete timeline of this policy change

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2022-04-06

under deliberation

On 6 April 2022, US Senate Banking Committee Ranking Member Pat Toomey released the initial draft o…

2022-12-21

under deliberation

On 21 December 2022, US Senate Banking Committee Ranking Member Pat Toomey introduced the "Stableco…

2023-01-03

rejected

On 3 January 2023, the “Stablecoin Transparency of Reserves and Uniform Safe Transactions Act of 20…