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Title 12 — Banks and BankingRelease 119-73not60

§5914 Reports

Title 12 › Chapter 56— REGULATION OF PAYMENT STABLECOINS › § 5914

Last updated Apr 3, 2026|Official source

Summary

Starting 1 year after July 18, 2025, and every year after that, the main federal agencies that regulate payment stablecoins must send a report to the Senate Committee on Banking, Housing, and Urban Affairs, the House Committee on Financial Services, and the Director of the Office of Financial Research. The report can include a classified annex if needed. It must cover trends in payment stablecoin activity, the number of applications to be approved as permitted payment stablecoin issuers (including totals of approvals and rejections), and the possible risks those activities pose to the safety and soundness of the broader financial system. The Financial Stability Oversight Council must include the findings from that report in its annual report required under section 5322(a)(2)(N).

Full Legal Text

Title 12, §5914

Banks and Banking — Source: USLM XML via OLRC

(a)Beginning on the date that is 1 year after July 18, 2025, and annually thereafter, the primary Federal payment stablecoin regulators, in consultation with State payment stablecoin regulators, as necessary, shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee on Financial Services of the House of Representatives, and the Director of the Office of Financial Research a report, which may include a classified annex, if applicable, on the status of the payment stablecoin industry, including—
(1)a summary of trends in payment stablecoin activities;
(2)a summary of the number of applications for approval as a permitted payment stablecoin issuer under section 5904 of this title, including aggregate approvals and rejections of applications; and
(3)a description of the potential financial stability risks posed to the safety and soundness of the broader financial system by payment stablecoin activities.
(b)The Financial Stability Oversight Council shall incorporate the findings in the report under subsection (a) into the annual report of the Council required under section 5322(a)(2)(N) of this title.

Legislative History

Notes & Related Subsidiaries

Delayed

Effective Date

of SectionFor delayed

Effective Date

of section, see

Effective Date

note below.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective on the earlier of the date that is 18 months after July 18, 2025, or the date that is 120 days after the date on which the primary Federal payment stablecoin regulators issue any final

Regulations

implementing Pub. L. 119–27, see section 20 of Pub. L. 119–27, set out as a note under section 5901 of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 5914

Title 12 — Banks and Banking

Last Updated

Apr 3, 2026

Release point: 119-73not60