Foreign Stablecoin Transparency Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 3907 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 3907 To amend the GENIUS Act to require foreign payment stablecoin issuers to undergo an annual audit similar to United States payment stablecoin issuers, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES February 24, 2026 Mr. Reed introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To amend the GENIUS Act to require foreign payment stablecoin issuers to undergo an annual audit similar to United States payment stablecoin issuers, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Foreign Stablecoin Transparency Act''. SEC. 2. AMENDMENTS TO FOREIGN PAYMENT STABLECOIN ISSUER EXCEPTION. Section 18 of the GENIUS Act (12 U.S.C. 5916) is amended-- (1) in subsection (a),…