The Secretary of the Treasury may designate a foreign issuer as noncompliant
To provide for the regulation of payment stablecoins, and for other purposes, section 8, Sec. 8.
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The Secretary of the Treasury may designate a foreign issuer as noncompliant
The document says “shall”Who acts: Secretary of the TreasuryHow: statuteSec. 8 in the PDF
What the document says
“The Secretary of the Treasury shall have the authority to designate any foreign issuer that publicly offers, sells, or otherwise makes available a payment stablecoin in violation of paragraph (1) as noncompliant.”
Subsection (a)(2). Within 30 days of the Department of the Treasury identifying such an issuer whose stablecoin is trading in the United States, the Secretary may, in coordination with relevant Federal agencies, designate the issuer as noncompliant and notify it in writing. Under paragraph (3) a determination of noncompliance is subject to judicial review in the United States Court of Appeals for the District of Columbia Circuit.
What the document actually says
“The Secretary of the Treasury shall have the authority to designate any foreign issuer that publicly offers, sells, or otherwise makes available a payment stablecoin in violation of paragraph (1) as noncompliant.”
That sentence, in plain words
The head of the Treasury can label a foreign maker. The label says the maker is out of step with the law.
What this is about
The Treasury has 30 days from spotting the maker. It must tell the maker in writing. The maker can take the label to a court in Washington, D.C.
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. 8, 139 Stat. 450 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm
This page
“The Secretary of the Treasury may designate a foreign issuer as noncompliant,” Guiding and Establishing National Innovation for U.S. Stablecoins Act, section 8, Sec. 8. Read the Mandate, https://readthemandate.org/guiding-establishing-national-innovation-u-s/proposal/sec08-noncompliance-designation/ (retrieved August 26, 2026).
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