What does Preamble of S 3907 do?

This bill amends the GENIUS Act. It requires foreign payment stablecoin issuers to undergo an annual audit. The audit requirements would be similar to those for United States payment stablecoin issuers.

What does SHORT TITLE. of S 3907 do?

This Act is formally titled the Foreign Stablecoin Transparency Act.

What does AMENDMENTS TO FOREIGN PAYMENT STABLECOIN ISSUER EXCEPTION. of S 3907 do?

This section amends Section 18 of the GENIUS Act (12 U.S.C. 5916). It adds a new subsection (5) to subsection (a) which applies to foreign payment stablecoin issuers with over $50,000,000,000 in outstanding issuance that are not subject to SEC reporting requirements. These issuers must prepare annual financial statements in accordance with generally accepted accounting principles, disclosing related party transactions. They must also engage a registered public accounting firm to audit these statements according to Public Company Accounting Oversight Board (PCAOB) standards. A new subsection (e) clarifies that this section does not alter the PCAOB’s jurisdiction over permitted payment stablecoin issuers or registered public accounting firms.

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Foreign Stablecoin Transparency Act — S. 3907

Last updated: 2/24/2026 · Introduced: 2/24/2026

Author: John Reed (D-RI)

TL;DR (AI)

The bill amends the GENIUS Act to require foreign payment stablecoin issuers with over $50 billion in outstanding issuance to undergo annual audits.
These issuers must prepare annual financial statements following generally accepted accounting principles and disclose related party transactions.
Audits must be conducted by a registered public accounting firm adhering to Public Company Accounting Oversight Board (PCAOB) standards.

119th Congressin committeeOfficial page

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Includes provisions on preamble, short title., and 1 more.

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