S. 1582
Regulates digital payment stablecoins and their issuers
Establishes rules for digital currency issuers, requiring them to back tokens with equal reserves and follow federal or state oversight.
- Permitted issuers must maintain one-to-one reserves in cash or liquid assets
- Issuers must publicly disclose redemption policies and monthly reserve reports
- Violators issuing stablecoins without permission face fines or imprisonment
Became law · Public Law 119-27