If you use "stablecoins" — digital currency-like tokens that are supposed to always be worth $1 (or another fixed value) — this law says only approved, licensed companies can issue them in the U.S., whether that license comes from a federal bank regulator or, for smaller issuers, a state regulator. Those companies must keep real dollars or safe, easy-to-sell assets like Treasury bonds on hand to back every token they've issued, publish monthly reports proving it, and let customers cash out their tokens for real money on request. It also bans issuers from lending out or reusing those backup funds for other purposes, requires them to follow the same money-laundering and fraud-monitoring rules banks already follow, and makes it a crime — punishable by fines or prison — to issue stablecoins without going through this approval process. Foreign companies can also offer stablecoins to Americans, but only if the U.S. Treasury decides their home country's rules are similarly strict.