S. 394 aims to create a regulatory framework for payment stablecoins in the United States. The bill establishes standards and requirements for entities that wish to issue stablecoins, ensuring they are backed 1:1 with reserves of U.S. currency, Treasury bills, or similar...
Simple Explanation
S. 394 is a proposed law that makes rules for digital money called stablecoins, ensuring they are safe and backed by real money, like U.S. dollars, and it sets up checks to make sure they are used properly.