National Security and Foreign Issuers:
The bill includes provisions to address national security concerns, particularly regarding foreign stablecoin issuers operating in the U.S. A Stablecoin Certification Review Committee (comprising the Treasury Secretary, Federal Reserve Chair or Vice Chair, and FDIC Chair) evaluates foreign issuers to ensure compliance with U.S. standards.
The updated draft expands on reciprocity for overseas issuers, requiring reserve compliance and coordination with international regulators to align rules and reduce conflicts.