A State regulator has supervisory, examination and enforcement authority
To provide for the regulation of payment stablecoins, and for other purposes, section 7, Sec. 7.
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A State regulator has supervisory, examination and enforcement authority
The document says “shall”Who acts: State payment stablecoin regulatorsHow: statuteSec. 7 in the PDF
What the document says
“A State payment stablecoin regulator shall have supervisory, examination, and enforcement authority over all State qualified payment stablecoin issuers of such State.”
Subsection (a). The authority covers all State qualified payment stablecoin issuers of that State. Section 6(b)(6) switches off the Federal enforcement subsection for those issuers, and section 2(30) defines a State payment stablecoin regulator as the State agency with primary regulatory and supervisory authority over entities that issue payment stablecoins in that State.
What the document actually says
“A State payment stablecoin regulator shall have supervisory, examination, and enforcement authority over all State qualified payment stablecoin issuers of such State.”
That sentence, in plain words
A state watchdog runs the checks on the makers it cleared. It can also step in when one breaks a rule.
What this is about
Each state names one body for this job. It covers every maker that state cleared. Part 6 keeps the federal powers off those makers.
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. 7, 139 Stat. 447 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm
This page
“A State regulator has supervisory, examination and enforcement authority,” Guiding and Establishing National Innovation for U.S. Stablecoins Act, section 7, Sec. 7. Read the Mandate, https://readthemandate.org/guiding-establishing-national-innovation-u-s/proposal/sec07-state-regulator-authority/ (retrieved October 10, 2026).
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