The bodies writing rules should coordinate as appropriate
To provide for the regulation of payment stablecoins, and for other purposes, section 13, Sec. 13.
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The bodies writing rules should coordinate as appropriate
The document says “should”Who acts: Federal payment stablecoin regulators, Secretary of the Treasury, State payment stablecoin regulatorsHow: statuteSec. 13 in the PDF
What the document says
“Federal payment stablecoin regulators, the Secretary of the Treasury, and State payment stablecoin regulators should coordinate, as appropriate, on the issuance of any regulations to implement this Act.”
Subsection (b). The verb is should rather than shall, and the coordination is qualified as appropriate. Section 4(h)(2) states a firmer version for the rules issued under that section, which are to be issued in coordination by the primary Federal payment stablecoin regulators if not issued by a State regulator.
What the document actually says
“Federal payment stablecoin regulators, the Secretary of the Treasury, and State payment stablecoin regulators should coordinate, as appropriate, on the issuance of any regulations to implement this Act.”
That sentence, in plain words
The bodies that write these rules should work together. They should do so where it fits.
What this is about
This part says should, not must. Part 4 is firmer about its own rules. There the federal bodies must act as a group.
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. 13, 139 Stat. 459 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm
This page
“The bodies writing rules should coordinate as appropriate,” Guiding and Establishing National Innovation for U.S. Stablecoins Act, section 13, Sec. 13. Read the Mandate, https://readthemandate.org/guiding-establishing-national-innovation-u-s/proposal/sec13-coordination/ (retrieved October 10, 2026).
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