by Jake ClaverStablecoin Trust Act and U.S. stablecoin legislation: stablecoins doing real settlement work
Stablecoin Trust Act and U.S. stablecoin legislation put stablecoins to work as settlement money. Every part of it traces back to a named, primary source.
The Settlement Layer
This material is about fiat-denominated value moving through the ecosystem, usually via issuance or settlement. Supporting material comes from the Congress bill search for S.5340 and the Toomey release archive. Senate Banking Stablecoin TRUST Act PDF, a legal and policy record from the organizations involved, states it directly:
> DEMPTION POLICIES, ATTESTA2 TIONS, AND PERMISSIBLE ASSETS FOR PAY3 MENT STABLECOIN ISSUERS. 4 (a) IN GENERAL.—Any person described in section 5 3(b) that issues a payment stablecoin shall— 6 (1) publicly disclose the assets backing the pay7 ment stablecoin on a monthly basis; 8 (2) adopt and publicly disclose policies for re9 deeming the payment stablecoin, including whether 10 redemption requests will be met on demand or with 11 a time lag; 12 (3) undergo quarterly attestations by a reg13 istered public…
What This Means For Market Infrastructure
What it changes for the broader institutional payments and tokenization stack: stablecoin activity can improve how useful a network is for payments and treasury operations.
From The Source
