H.R. 7328House117th Congress (2021-2023)In Committee

Stablecoin Transparency Act

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Updated February 8, 2026 at 10:30 AM UTC

The Stablecoin Transparency Act requires issuers of fiat‑backed stablecoins to hold reserves in short‑term government securities, fully collateralized repurchase agreements, or cash, and to publicly disclose audited reserve reports every 30 days. It defines what a fiat‑backed stablecoin is and who counts as a stablecoin issuer. The law applies to any person that issues a stablecoin redeemable one‑to‑one for a fiat currency.

Key Provisions

Define “fiat currency‑backed stablecoin” as a digital asset whose value is backed one‑to‑one by a non‑digital currency and redeemable at parity.
Define “stablecoin issuer” as any person issuing such a stablecoin.
Require issuers to keep all reserves in U.S. government securities maturing within 12 months, fully collateralized repurchase agreements, or U.S. dollars/other non‑digital currency.
Mandate that issuers publish an audited reserve report on their website within 30 days of enactment and every 30 days thereafter.

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Financial Services.

Financial Services Committee

March 31, 2022

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HouseIntro Referral

Introduced in House

March 31, 2022

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

March 31, 2022

Bill Text

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Introduced in HouseIssued March 31, 2022

117th CONGRESS

2d Session

H. R. 7328

IN THE HOUSE OF REPRESENTATIVES

March 31, 2022

Mr. Hollingsworth introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To establish reporting requirements for issuers of fiat currency-backed stablecoins, and for other purposes.

Short title

This Act may be cited to as the Stablecoin Transparency Act.

Stablecoin issuer requirements

(a)

Definitions

In this section:

(1)

Fiat currency-backed stablecoin

The term fiat currency-backed stablecoin means a fiat currency-backed digital asset—

(A)

that maintains price stability by backing the value of such digital asset to a non-digital currency that is denominated in the same currency as such digital asset is issued; and

(B)

is redeemable on a one-to-one basis in the denominated currency to which the digital asset is backed.

(2)

Stablecoin issuer

The term stablecoin issuer means a person that issues a fiat currency-backed stablecoin.

(b)

Reserves

Each stablecoin issuer shall hold all reserves associated with each fiat currency-backed stablecoin issued by such stablecoin issuer in—

(1)

government securities that mature not more than 12 months;

(2)

fully collateralized security repurchase agreements; and

(3)

United States dollars or any other non-digital currency.

(c)

Reserve reports

Each stablecoin issuer shall, not later than 30 days after the date of the enactment of this Act and every 30 days thereafter, publish on the website of such stablecoin issuer, a report on the reserves held by such stablecoin issuer that has been audited by a third-party auditor.