Federal senate In committee
S 1102
Stablecoin Oversight and Reserve Act
Reported favorably by Senate Banking; awaiting floor schedule.
Read the official bill text ↗Summary
Establishes a federal charter for issuers of payment stablecoins, requires 1:1 dollar reserves held in cash or short-duration Treasuries, mandates monthly attestation and quarterly audit, and preempts conflicting state regimes.
Key provisions
- Federal charter required for issuers above $10B outstanding
- 100% backing in cash or T-bills under 90 days
- Monthly attestation, quarterly audit by registered accounting firm
- Federal preemption of state stablecoin frameworks
- Bankruptcy priority for token-holders over general creditors
Effect
Who benefits Token-holders, federal regulators, the integrity of dollar reserve status.
Who pays Issuers (compliance + capital); states losing their permissive regimes.
Your reps on this bill
JL
James Lankford
U.S. Senator · R-OK
no roll call
AA
Alan Armstrong
U.S. Senator · R-OK
no roll call
JB
Josh Brecheen
U.S. Rep · OK-02 · R-OK
no roll call
DB
David Bullard
U.S. Senator · R-OK
no roll call
CM
Cody Maynard
U.S. Rep · HD-21 · R-OK
no roll call