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Code · STATUTE-COMPILATIONS · Guiding and Establishing National Innovation for U.S. Stablecoins Act · Sec. 14

Sec. 14. STUDY ON NON-PAYMENT STABLECOINS

276 words·~1 min read·/statute-compilations/comps-18221/sec-14

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 14 STUDY ON NON-PAYMENT STABLECOINS ###
(a)Study by Treasury ####
(1)Study The Secretary of the Treasury, in consultation with the Board, the Comptroller, the Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission shall carry out a study of non-payment stablecoins, including endogenously collateralized payment stablecoins. ####
(2)Report Not later than 365 days after the date of the enactment of this Act, the Secretary of the Treasury shall provide to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report that contains all findings made in carrying out the study under paragraph (1), including an analysis of— #####
(A)the categories of non-payment stablecoins, including the benefits and risks of technological design features; #####
(B)the participants in non-payment stablecoin arrangements; #####
(C)utilization and potential utilization of non-payment stablecoins; #####
(D)the nature of reserve compositions; #####
(E)types of algorithms being employed; #####
(F)governance structure, including aspects of decentralization; #####
(G)the nature of public promotion and advertising; and #####
(H)the clarity and availability of consumer notices disclosures. ####
(3)Classified annex A report under this section may include a classified annex, if applicable. ###
(b)Endogenously Collateralized Payment Stablecoin Defined In this section, the term “endogenously collateralized payment stablecoin” means any digital asset— ####
(1)the originator of which has represented will be converted, redeemed, or repurchased for a fixed amount of monetary value; and ####
(2)that relies solely on the value of another digital asset created or maintained by the same originator to maintain the fixed price.
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