Regulators must report to Congress on applications pending 180 days or more
To provide for the regulation of payment stablecoins, and for other purposes, section 5, Sec. 5.
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Regulators must report to Congress on applications pending 180 days or more
The document says “shall”Who acts: primary Federal payment stablecoin regulatorsHow: statuteSec. 5 in the PDF
What the document says
“(1) notify Congress upon beginning to process applications under this Act; and (2) annually report to Congress on the applications that have been pending for 180 days or more since the date the initial application was filed and for which the applicant has been informed that the application remains incomplete”
Subsection (e). The annual report is to include documentation on the status of those applications and why they have not yet been approved. It covers applications pending for 180 days or more where the applicant has been told the application remains incomplete.
What the document actually says
“(1) notify Congress upon beginning to process applications under this Act; and (2) annually report to Congress on the applications that have been pending for 180 days or more since the date the initial application was filed and for which the applicant has been informed that the application remains incomplete”
That sentence, in plain words
Each watchdog must tell Congress when it starts taking requests. Each year it must report on the slow ones. Those are the ones waiting 180 days or more.
What this is about
The report covers requests the watchdog called short of full. It must show where each one stands. It must say why none of them is cleared yet.
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
“Regulators must report to Congress on applications pending 180 days or more,” 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-reports-on-pending-applications/ (retrieved August 26, 2026).
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