This part calls for a yearly report on these coins. The federal watchdogs write it. It goes to two groups in Congress and to a research office. A financial risk council must fold it into its own report.
The document says “shall”Who acts: primary Federal payment stablecoin regulatorsHow: statuteSec. 15 in the PDF
What the document says
“Beginning on the date that is 1 year after the date of enactment of this Act, and annually thereafter, the primary Federal payment stablecoin regulators, in consultation with State payment stablecoin regulators, as necessary, shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee on Financial Services of the House of Representatives, and the Director of the Office of Financial Research a report”
Subsection (a). The report is on the status of the payment stablecoin industry and may include a classified annex. Three subjects are named: a summary of trends in payment stablecoin activities, a summary of the number of applications for approval as a permitted payment stablecoin issuer under section 5 including aggregate approvals and rejections, and a description of the potential financial stability risks posed to the safety and soundness of the broader financial system.
What the document actually says
“Beginning on the date that is 1 year after the date of enactment of this Act, and annually thereafter, the primary Federal payment stablecoin regulators, in consultation with State payment stablecoin regulators, as necessary, shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate, the Committee on Financial Services of the House of Representatives, and the Director of the Office of Financial Research a report”
That sentence, in plain words
The federal watchdogs must report each year. The first is due a year after the law passed. It goes to two groups in Congress and to a research office.
What this is about
They must talk to state watchdogs where needed. The report covers three things. Those are trends, the count of requests, and risks to the system.
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.
The document says “shall”Who acts: Financial Stability Oversight CouncilHow: statuteSec. 15 in the PDF
What the document says
“The Financial Stability Oversight Council shall incorporate the findings in the report under subsection (a) into the annual report of the Council required under section 112(a)(2)(N) of the Financial Stability Act of 2010 (12 U.S.C. 5322(a)(2)(N)).”
Subsection (b). The Council folds the findings of the annual stablecoin report into its own annual report. What that report must otherwise contain is not recorded here, because the Financial Stability Act of 2010 is not indexed on this site.
What the document actually says
“The Financial Stability Oversight Council shall incorporate the findings in the report under subsection (a) into the annual report of the Council required under section 112(a)(2)(N) of the Financial Stability Act of 2010 (12 U.S.C. 5322(a)(2)(N)).”
That sentence, in plain words
A council that watches for risk must use what the report finds. It must fold those findings into its own yearly report.
What this is about
The council brings the top financial watchdogs together. Its report is set by an older law. That law is not part of this site.
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. 15, 139 Stat. 460 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm
This page
“Reports,” Guiding and Establishing National Innovation for U.S. Stablecoins Act, section 15. Read the Mandate, https://readthemandate.org/guiding-establishing-national-innovation-u-s/section-15/ (retrieved August 26, 2026).
Cite the document when the claim is about what the document says. Cite this page when the indexing, the wording or the record of what has happened is what is being relied on.
What This Page Covers, and What It Leaves Out
The two things the section requires: the annual report on the status of the payment stablecoin industry with its three named subjects, and the duty of the Financial Stability Oversight Council to incorporate its findings into the Council's own annual report.
Nothing else. The section sets no penalty and creates no authority beyond the reporting duties.
The Council's own annual report is required under section 112(a)(2)(N) of the Financial Stability Act of 2010 (12 U.S.C. 5322(a)(2)(N)), which is not indexed on this site, so what that report must contain is not recorded here.
