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H.R. 8498 117th Congress House

To establish reporting requirements for persons who issue fiat currency-backed stablecoins, and for other purposes.

Introduced: July 26, 2022 See on congress.gov
Finance and Financial Sector
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 26, 2022
Referred to the House Committee on Financial Services.
Jul 26, 2022
Introduced in House
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 Latest action July 26, 2022

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

This bill addresses the regulatory treatment of fiat currency-backed stablecoins. The bill defines these as digital assets that (1) maintain price stability by backing the value with a nondigital currency, and (2) can be redeemed in that currency on a one-to-one basis.

Under the bill, the Securities and Exchange Commission and the Commodity Futures Trading Commission are prohibited from regulating fiat currency-backed stablecoins. The bill requires stablecoin issuers to hold all associated reserves in (1) government securities that mature in not more than 12 months, (2) fully collateralized security repurchase agreements, and (3) U.S. dollars or other nondigital currency.

 Related & companion bills 2
  • HR 7328 Stablecoin Transparency Act
  • S 3970 Stablecoin Transparency Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 8498: To establish reporting requirements for persons who issue fiat currency-backed stablecoins, and for other purposes.. 117th Congress. Open America. https://openamerica.io/bill/117-HR-8498/
MLA
"H.R. 8498: To establish reporting requirements for persons who issue fiat currency-backed stablecoins, and for other purposes.." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-8498/.
Bluebook (legal)
H.R. 8498, 117th Cong. (2026), https://openamerica.io/bill/117-HR-8498/.
Markdown link
[H.R. 8498: To establish reporting requirements for persons who issue fiat currency-backed stablecoins, and for other purposes.](https://openamerica.io/bill/117-HR-8498/)
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