Stablecoin TRUST Act of 2022
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Dec 2022
Committee Review
Floor Vote
President
Introduced Dec 21, 2022
Last action Dec 21, 2022
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Dec 21, 2022
Committee
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
upper
Dec 21, 2022
Introduced
Introduced in Senate
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Patrick J. Toomey
RRepublican
Ask Maddy
·
AI policy assistant
Ask Maddy about S 5340
Scope: US
Hi! I can help you understand S 5340. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline