The Secretary of the Treasury may issue limited safe harbors
To provide for the regulation of payment stablecoins, and for other purposes, section 3, Sec. 3.
Written by .
The Secretary of the Treasury may issue limited safe harbors
The document says “can”Who acts: Secretary of the TreasuryHow: statuteSec. 3 in the PDF
What the document says
“The Secretary of the Treasury may issue regulations providing safe harbors from subsection (a) that are-- (A) consistent with the purposes of the Act; (B) limited in scope; and (C) apply to a de minimis volume of transactions, as determined by the Secretary of the Treasury.”
Subsection (c)(1). The safe harbor is from subsection (a), the ban on issuing without permission. Three conditions attach: consistency with the purposes of the Act, limited scope, and application to a de minimis volume of transactions as the Secretary determines.
What the document actually says
“The Secretary of the Treasury may issue regulations providing safe harbors from subsection (a) that are-- (A) consistent with the purposes of the Act; (B) limited in scope; and (C) apply to a de minimis volume of transactions, as determined by the Secretary of the Treasury.”
That sentence, in plain words
The head of the Treasury can write a rule that lets some people off. The rule must fit the aims of the law. It must be narrow. And it can cover only a tiny number of trades.
What this is about
A safe harbor is a carve out from a ban. Here the ban is on making these coins without clearance. The Treasury decides how small counts as tiny.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Guiding and Establishing National Innovation for U.S. Stablecoins Act, Public Law 119-27, sec. 3, 139 Stat. 423 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm
This page
“The Secretary of the Treasury may issue limited safe harbors,” Guiding and Establishing National Innovation for U.S. Stablecoins Act, section 3, Sec. 3. Read the Mandate, https://readthemandate.org/guiding-establishing-national-innovation-u-s/proposal/sec03-safe-harbors/ (retrieved October 10, 2026).
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