{"bill":{"id":"119-hr-2392","congress":119,"type":"HR","number":2392,"title":"STABLE Act of 2025","originChamber":"House","introducedDate":"2025-03-26","sponsors":[{"bioguideId":"S001213","fullName":"Rep. Steil, Bryan [R-WI-1]","party":"R","state":"WI","district":1}],"cosponsorsCount":17,"latestAction":{"actionDate":"2025-05-06","text":"Placed on the Union Calendar, Calendar No. 68."},"policyArea":"Finance and Financial Sector","subjects":["Bank accounts, deposits, capital","Banking and financial institutions regulation","Civil actions and liability","Computer security and identity theft","Computers and information technology","Congressional oversight","Consumer affairs","Currency","Digital media","Financial services and investments","Fraud offenses and financial crimes","Government studies and investigations","Judicial procedure and administration","Securities","State and local government operations"],"actions":[{"date":"2025-05-06","text":"Placed on the Union Calendar, Calendar No. 68.","type":"Calendars","chamber":"House floor actions","hasVote":false},{"date":"2025-05-06","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-94.","type":"Committee","chamber":"House floor actions","hasVote":false},{"date":"2025-05-06","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-94.","type":"Committee","chamber":"Library of Congress","hasVote":false},{"date":"2025-04-02","text":"Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 17.","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-04-02","text":"Committee Consideration and Mark-up Session Held","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-03-26","text":"Referred to the House Committee on Financial Services.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-03-26","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-03-26","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 or the STABLE Act of 2025</strong></p><p>This bill establishes a regulatory framework for payment&nbsp;stablecoins (digital assets which an issuer must redeem for a fixed value).</p><p>Under the bill, only permitted issuers may issue a payment stablecoin in the United States, subject to certain exceptions. Permitted issuers must be a subsidiary of an insured depository institution, a federal-qualified nonbank payment stablecoin issuer, or a state-qualified payment stablecoin issuer. Permitted issuers must be regulated by the appropriate federal or state&nbsp;regulator.&nbsp;A state regulator must certify that the state regulatory regime meets or exceeds federal requirements as established by the bill.&nbsp;</p><p>Permitted issuers must maintain reserves backing the&nbsp;stablecoin on a one-to-one basis using U.S. currency or other similarly liquid assets, as specified. Permitted issuers must also publicly disclose their redemption policy and publish monthly&nbsp;the details of their reserves.</p><p>The bill specifies requirements for (1) reusing reserves; (2) providing safekeeping services for&nbsp;stablecoins; and (3) supervisory, examination, and enforcement authority over federal-qualified issuers.</p><p>The bill places a two-year moratorium on new endogenously collateralized stablecoins (i.e., stablecoins that rely on the value of another digital asset created or maintained by the same originator to maintain the fixed price).</p><p>Under the bill, permitted payment&nbsp;stablecoins are not considered securities under securities law. However, permitted issuers&nbsp;are&nbsp;subject to the Bank Secrecy Act for anti-money laundering and related purposes.</p>","updateDate":"2025-10-09T03:26:14Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":527,"ts":"2026-04-15T14:21:39.422Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=STABLE%20Act%20of%202025"}]}}