Some foreign companies with more than $50 billion in stablecoins would have to publish yearly financial reports and get them audited. The rule would not apply if they already report under key U.S. securities laws.
Modern Action explains what the legislation does, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
Foreign Stablecoin Transparency Act is a Senate bill in committee. The latest recorded action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S653-654).
Latest action on S. 3907: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S653-654)
Who this affects: This bill mainly affects very large foreign companies that issue stablecoins used for payments. Covered companies would need to prepare a U.S.-style financial report each year and pay a registered accounting firm to audit it. Accounting firms would have to follow U.S. public-company audit standards. Regulators, investors, and stablecoin users could receive clearer financial information about these companies.
Why this matters: Very large foreign stablecoin companies can affect digital payments and financial markets used in the United States. Yet some may not file the same public financial reports as similar U.S. companies. Yearly reports and audits could make their finances and risks easier to see. The actual effect is unclear. It would depend on how many companies cross the $50 billion mark and how the rules work in practice.
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Officially: Foreign Stablecoin Transparency Act
Some foreign companies with more than $50 billion in stablecoins would have to publish yearly financial reports and get them audited. The rule would not apply if they already report under key U.S. securities laws.
Use this page to support, oppose, or ask Congress to amend S3907. Modern Action explains what the bill does, helps identify the right senators or representative, and drafts a bill-specific message you can edit and send.
Where it stands
Sitting in Banking
No vote scheduled. Constituent contact is what moves bills out of committee.
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Where this bill is in the process
Introduced
Introduced in Senate
Senate Committee
Under Senate committee consideration
Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S653-654) (2/24/2026)
Senate Floor Vote
Voted on by Senate
Passed Senate
Approved by Senate
House Review
Sent to House for consideration
Passed Both Chambers
Approved by both House and Senate
Signed into Law
Signed by the President
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This page gives you an opportunity to support, oppose, or ask for changes to Foreign Stablecoin Transparency Act, then contact the elected officials who can act. Modern Action drafts the message from your position and the reasons you select.
Modern Action keeps the action tied to the bill itself: what it does, where it is in the process (committee), which office can still act, and what ask belongs in the message.
You are not starting from a blank form. Modern Action drafts the message around S3907, your stance, and the reasons you choose, then lets you edit and send when ready.
