Plain English Breakdown
The effective date is listed as July 1, 2026.
Licensing Rules for Payment Stablecoin Issuers
This law creates a licensing system for companies that issue payment stablecoins in Georgia and sets rules regarding their advertisements, examinations, fees, and potential penalties.
What This Bill Does
- Creates a licensing requirement for issuers of payment stablecoins.
- Sets rules on the terms these companies can use in advertisements and at their places of business.
- Provides for third-party examination or investigation of licensed issuers.
- Requires the payment of fees to cover costs related to examinations and investigations.
- Allows regulators to suspend or revoke licenses, issue cease-and-desist orders, and remove certain officers and members.
Who It Names or Affects
- Companies that issue payment stablecoins in Georgia
- Officers and members of licensed issuers
Limits and Unknowns
- The official summary lists general powers but does not detail the specific steps for applying for a license.
- The text mentions that definitions are included in the bill, but their full wording is not provided here.