March 26 revision of The STABLE Act

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The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act's March 26 version explicitly excludes securities, deposits, and credit union accounts from the definition of “payment stablecoin” to provide legal clarity on qualifying asset

The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act's March 26 version requires stablecoin issuers to fully back their tokens with cash-equivalent reserves such as Treasury bills or demand deposits

The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act's March 26 version prohibits stablecoin issuers from paying yield to token holders and limits their business activities to issuance, redemption, and custody

The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act's March 26 version establishes formal application procedures for new stablecoin issuers, including regulatory decision deadlines, appeal rights, and reapplication options after denial

The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act's March 26 version mandates consumer protection measures clarifying that stablecoins are not insured by the U.S. government and criminalizes any misrepresentation of such guarantees

The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act's March 26 version mandates monthly reserve attestations by registered public accounting firms, with CEO and CFO certification of accuracy

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