# 119-s-3907: Foreign Stablecoin Transparency Act

119-s-3907, Foreign Stablecoin Transparency Act, is a 119th Congress bill sponsored by Sen. Reed, Jack [D-RI] (D-RI); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3907
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-3907
- Congress: 119
- Title: Foreign Stablecoin Transparency Act
- Status: introduced
- Introduced: 2026-02-24
- Sponsor: Sen. Reed, Jack [D-RI] (D-RI)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Greater financial transparency for very large foreign payment stablecoin issuers** is the main goal. The bill would make those issuers produce audited, GAAP financial statements and disclose related party transactions. - Large foreign payment stablecoin issuers: If a foreign payment stablecoin issuer has more than $50 billion in consolidated total outstanding issuance and is not subject to reporting under section 13(a) or 15(d) of the Securities Exchange Act of 1934, the bill would require an annual financial statement prepared in accordance with generally accepted accounting principles and disclosure of related party transactions. - Registered public accounting firms: Those financial statements must be audited by a registered public accounting firm under auditing standards set by the Public Company Accounting Oversight Board (PCAOB), including standards on auditor independence, internal controls, and related party transactions. - Oversight clarity: The bill adds a rule of construction stating that nothing in this section limits, alters, or expands the PCAOB's jurisdiction over permitted payment stablecoin issuers or registered public accounting firms.

## Provisions PRIA read

- Audit rules for huge foreign stablecoins: mixed, low. This bill would require a foreign payment stablecoin issuer with more than $50 billion in total outstanding issuance, and that is not subject to SEC reporting under sections 13(a) or 15(d), to prepare an annual financial statement under generally accepted accounting principles. The statement would…

## Related bills

- 119-s-1541: SHIPS for America Act of 2025
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-2763: Keep Billionaires Out of Social Security Act
- 119-s-2234: Reducing Homelessness Through Program Reform Act
- 119-s-3869: Healthy Families Act

## Sources
- [119-s-3907 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3907)

## Related
- [119-s-1541: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-s-1541)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-2763: Keep Billionaires Out of Social Security Act](https://policyrisk.com/legislation/119-s-2763)
- [119-s-2234: Reducing Homelessness Through Program Reform Act](https://policyrisk.com/legislation/119-s-2234)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3907 (as of 2026-04-21).