,,ii  #aag? ,,congress  #b;d ,session   
,s4 #cigj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,m>* #ca1 #bjbb ,mr4   
,hag]ty introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to e/abli% report+ requirem5ts 
= issu]s ( fiat curr5cy-back$ /ableco9s1
 & = o!r purposes4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,/ableco9         
,transp>5cy ,act4  #b4 ,/ableco9 issu]  
requirem5ts  7a7 ,def9itions ,9 ?is     
section3  7#a7 ,fiat curr5cy-back$      
/ableco9 ,! t]m fiat curr5cy-back$      
/ableco9 means a fiat curr5cy-back$     
digital asset-- 7,a7 t ma9ta9s price    
/ability by back+ ! value ( ! digital   
asset to a nondigital curr5cy t is      
d5om9at$ 9 ! same curr5cy 9 :i* !       
digital asset is issu$2 &  7,b7 is      
r$eemable on a "o-to-"o basis 9 !       
d5om9at$ curr5cy to :i* ! digital asset 
is back$4  7#b7 ,/ableco9 issu] ,! t]m  
/ableco9 issu] means a p]son t issues a 
fiat curr5cy-back$ /ableco94  7b7       

,res]ves ,ea* /ableco9 issu] %all hold  
all res]ves associat$ ) ea* fiat        
curr5cy-back$ /ableco9 issu$ by su*     
/ableco9 issu] 9-- 7#a7 gov]nm5t        
securities t h maturities ( n long] ?an 
#ab mon?s2  7#b7 fully collat]aliz$     
security repur*ase agreem5ts2 or  7#c7  
,unit$ ,/ates doll>s or any o!r         
nondigital curr5cy4  7c7 ,res]ve reports
 ,n lat] ?an #cj days aft] ! date (     
enactm5t ( ?is ,act & e #cj days        
!reaft]1 ea* /ableco9 issu] %all publi% 
on ! website ( ! /ableco9 issu] a report
 on ! res]ves held by ! /ableco9 issu] t
 has be5 audit$ by a ?ird-p>ty auditor4