An application is deemed approved if no decision is made in time
To provide for the regulation of payment stablecoins, and for other purposes, section 5, Sec. 5.
Written by .
An application is deemed approved if no decision is made in time
The document says “shall”Who acts: CongressHow: statuteSec. 5 in the PDF
What the document says
“If a primary Federal payment stablecoin regulator fails to render a decision on a complete application within the time period specified in paragraph (1), the application shall be deemed approved.”
Subsection (d)(3). The time period in paragraph (1) is 120 days from receipt of a substantially complete application. Under paragraph (4), a denial does not stop an applicant from filing a later application.
What the document actually says
“If a primary Federal payment stablecoin regulator fails to render a decision on a complete application within the time period specified in paragraph (1), the application shall be deemed approved.”
That sentence, in plain words
The watchdog may run out of time. If it does, the request counts as approved.
What this is about
The limit is 120 days. Silence works in the firm's favor here. A firm turned down may also just apply again.
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. 5, 139 Stat. 439 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm
This page
“An application is deemed approved if no decision is made in time,” Guiding and Establishing National Innovation for U.S. Stablecoins Act, section 5, Sec. 5. Read the Mandate, https://readthemandate.org/guiding-establishing-national-innovation-u-s/proposal/sec05-deemed-approved/ (retrieved October 10, 2026).
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