# 119-hr-2392: STABLE Act of 2025

119-hr-2392, STABLE Act of 2025, is a 119th Congress bill sponsored by Rep. Steil, Bryan [R-WI-1] (R-WI); status in_committee; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-2392
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-2392
- Congress: 119
- Title: STABLE Act of 2025
- Status: in_committee
- Introduced: 2025-03-26
- Sponsor: Rep. Steil, Bryan [R-WI-1] (R-WI)
- Cosponsors: 17
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Creates a federal rulebook that tightly regulates payment stablecoins, requiring 1-to-1 reserve backing, strict custody rules, and bank-style supervision.** It defines who may issue, limits permitted activities, and sets transition paths for custodians and state issuers. - Consumers and holders: Monthly reserve disclosures with independent audits increase transparency. Issuers cannot claim federal insurance and face civil penalties and criminal fines of $1 million to $5 million for false reserve certifications. - Issuers and custodians: Only permitted issuers may issue payment stablecoins and custodians must segregate customer assets, protect private keys, and largely bar rehypothecation except narrow overnight repos. Issuers face capital, liquidity, AML and Bank Secrecy Act obligations and may not pay interest to holders. - State, banking, and global rules: Creates a state certification regime and a federal backup supervisory authority after notice. The bill requires Treasury-led foreign comparability determinations, studies of non-payment stablecoins, and imposes a two-year moratorium on newly created endogenously collateralized stablecoins.

## Cosponsors (17)

- Rep. Hill, J. French [R-AR-2] (R-AR), 2025-03-26T00:00:00.000Z
- Rep. Torres, Ritchie [D-NY-15] (D-NY), 2025-03-26T00:00:00.000Z
- Rep. Emmer, Tom [R-MN-6] (R-MN), 2025-03-26T00:00:00.000Z
- Rep. Huizenga, Bill [R-MI-4] (R-MI), 2025-03-26T00:00:00.000Z
- Rep. Meuser, Daniel [R-PA-9] (R-PA), 2025-03-26T00:00:00.000Z
- Rep. Kim, Young [R-CA-40] (R-CA), 2025-03-26T00:00:00.000Z
- Rep. Moore, Tim [R-NC-14] (R-NC), 2025-03-26T00:00:00.000Z
- Rep. Downing, Troy [R-MT-2] (R-MT), 2025-03-26T00:00:00.000Z
- Rep. Haridopolos, Mike [R-FL-8] (R-FL), 2025-03-26T00:00:00.000Z
- Rep. Gottheimer, Josh [D-NJ-5] (D-NJ), 2025-03-26T00:00:00.000Z
- Rep. Liccardo, Sam T. [D-CA-16] (D-CA), 2025-03-26T00:00:00.000Z
- Rep. Timmons, William R. [R-SC-4] (R-SC), 2025-03-27T00:00:00.000Z
- Rep. Lawler, Michael [R-NY-17] (R-NY), 2025-03-31T00:00:00.000Z
- Rep. Nunn, Zachary [R-IA-3] (R-IA), 2025-03-31T00:00:00.000Z
- Rep. Rose, John W. [R-TN-6] (R-TN), 2025-04-01T00:00:00.000Z
- Rep. Stutzman, Marlin A. [R-IN-3] (R-IN), 2025-04-01T00:00:00.000Z
- Rep. Thanedar, Shri [D-MI-13] (D-MI), 2025-04-28T00:00:00.000Z

## Provisions PRIA read

- Stronger protections for custodial stablecoin users: benefit, medium. If enacted, custodial firms that hold your stablecoins or keys would have to keep them separate from company funds. They would have to treat your assets as yours and protect them from the firm’s creditors. They would need to report how they protect customer assets to federal regulators. Limited poo…
- Deadlines for bank subsidiary issuer approvals: benefit, medium. If enacted, regulators would have 30 days to say if an application is complete and 120 days to decide. If they miss the deadline, the application would be deemed approved. Denials must explain reasons, and applicants could request a hearing within 30 days; a final decision would be due 60 days afte…
- Interoperability standards and foreign access pathway: benefit, medium. If enacted, federal regulators would study and, if needed, set technical standards to help different stablecoins work together, in consultation with NIST and States. Treasury would publish a list of countries with comparable rules. Foreign issuers from those countries could be allowed if they agree…
- Only approved stablecoins, with strict enforcement: cost, high. If enacted, only permitted issuers could issue stablecoins in the U.S. After 18 months, custodial platforms could offer only those permitted coins. Unauthorized issuance could face up to $100,000 per day in penalties, with extra penalties for knowing violations. New endogenously collateralized stab…
- 1:1 reserves and 180‑day risk rules: mixed, high. If enacted, issuers would have to hold 1‑to‑1 reserves in very safe assets like U.S. cash, Fed balances, or short‑term Treasuries (93 days or less). They would need monthly public reports, monthly independent reviews, and CEO/CFO certifications. Knowingly false certifications could bring fines up t…
- AML checks and supervision for issuers: mixed, high. If enacted, permitted issuers would be treated as financial institutions under the Bank Secrecy Act. They would need AML programs, to keep records, monitor for suspicious activity, and verify initial holders. Bank‑affiliated issuers would be supervised like their banks, and some nonbank issuers wou…
- Issuers limited to core tasks, no yield: mixed, high. If enacted, issuers could mainly issue and redeem coins, manage reserves, and provide custody. Other businesses would need explicit regulator approval. Issuers would not be allowed to pay interest or yield on stablecoins. This could lower risk but also limits returns to holders.
- Easier interstate operations and state certification: mixed, medium. If enacted, a State‑qualified issuer could do business in another State by giving at least 30 days’ notice, without a new license. The issuer would follow its home State rules, plus any extra rules in a host State with a certified regime. States could certify their regimes starting the earlier of o…
- Permitted stablecoins not treated as securities: mixed, medium. If enacted, payment stablecoins from permitted issuers would not be counted as “securities” under major federal securities laws. This would lessen securities‑law duties for those issuers. The change would apply only to coins from permitted issuers and would take effect upon enactment.

## Related bills

- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-4382: America’s Olympic and Paralympic Games Commemorative Coins Act
- 119-hr-1422: Enhanced Iran Sanctions Act of 2025
- 119-hr-452: Miracle on Ice Congressional Gold Medal Act
- 119-hr-6955: Main Street Capital Access Act

## Sources
- [119-hr-2392 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/2392)

## Related
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-4382: America’s Olympic and Paralympic Games Commemorative Coins Act](https://policyrisk.com/legislation/119-hr-4382)
- [119-hr-1422: Enhanced Iran Sanctions Act of 2025](https://policyrisk.com/legislation/119-hr-1422)
- [119-hr-452: Miracle on Ice Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-452)
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-2392 (as of 2026-04-21).