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Read. Follow. Verify.Idaho authorizes state use of payment stablecoins to pay vendors and contractors under the FAST Act
Last action · March 16, 2026: Reported Printed and Referred to Business
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What This Bill Proposed
Idaho establishes the Financial Accountability Stablecoin Transaction (FAST) Act, allowing the state treasurer and state controller to make payments to state vendors and contractors using authorized s starting July 1, 2026. Vendors and contractors may elect, but are not required, to receive payment in an authorized stablecoin. The state treasurer must maintain an annual list of approved stablecoins and submit regular reports to the legislature beginning December 15, 2027.
State vendors and contractors gain the option to receive payments in digital currency, while state agencies implement new digital-asset procedures, risk assessments, and reporting mandates managed by the state treasurer and state controller.
- The federal GENIUS Act establishes a comprehensive federal framework governing payment stablecoins, including issuer qualification and reserve standards. context
- House Bill 901 was introduced during the Sixty-eighth Idaho Legislature Second Regular Session by the Ways and Means Committee. context
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
State vendors and contractors
State vendors and contractors are given the option to elect to receive state payments in authorized payment stablecoins and must receive specific risk disclosures.
State Treasurer
The state treasurer is tasked with maintaining an annual list of authorized stablecoins, submitting periodic reports to the legislature, and coordinating with federal and state regulators.
State Controller
The state controller works jointly with the state treasurer to establish procedures for risk assessment, compliance, safeguards, and secure payment systems.
Key Facts
- The FAST Act creates Chapter 83, Title 67, Idaho Code, authorizing the use of payment stablecoins for state obligations.
- To be authorized, a stablecoin must be GENIUS-qualified or public purpose-qualified, fully backed by U.S. dollars or U.S. treasury obligations, and redeemable at par value on demand.
- GENIUS-qualified stablecoins must demonstrate at least $2,000,000,000 in aggregate transaction volume during the preceding twelve months.
- The state treasurer must publish an annual list of authorized payment stablecoins by January 1.
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- Beginning December 15, 2027, the state treasurer must submit an annual report to the legislature detailing authorized stablecoins, transaction volumes, and estimated cost savings.
- State vendors and contractors may elect to receive payments in an authorized payment stablecoin but are not required to do so.
- Vendors and contractors must be provided disclosures relating to redemption rights, reserve backing, audit standards, and digital-asset custody risks prior to electing stablecoin payment.
- The legislature may suspend or revoke the authorization of any payment stablecoin by adopting a concurrent resolution or enacting a superseding law.
Frequently Asked Questions
Are state vendors required to accept payment in stablecoins?
Who is responsible for maintaining the list of approved stablecoins?
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News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in House committee.
Procedural history
2 actions- Mar 16, 2026CommitteeReported Printed and Referred to Business
- Mar 16, 2026IntroducedIntroduced, read first time, referred to JRA for Printing
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Adoption of Digital Assets for State Payments
Idaho integrates federal framework standards (GENIUS Act) to permit private and state-issued stablecoins for vendor disbursements.
Connected Entities
Sources
legislature.idaho.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 75)
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz60Current news / social attention level
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