Idaho S1423 establishes the Financial Accountability Stablecoin Transaction (FAST) Act to authorize the use of payment stablecoins in state.

Idaho S1423, the FAST Act, authorizes the use of payment stablecoins in state transactions. It defines "authorized payment stablecoin" as a GENIUS-qualified or public purpose-qualified stablecoin. The act mandates the Department of Finance to compile a list of authorized stablecoins, while the State Treasurer may suspend or revoke authorization if necessary. The State Treasurer must also coordinate with federal and state regulators to ensure compliance. Vendors and contractors may elect to receive payment in authorized stablecoins, which are deemed valid and enforceable.

Idaho S1423 establishes the Financial Accountability Stablecoin Transaction (FAST) Act to authorize the use of payment stablecoins in state.

Idaho S1423, the FAST Act, authorizes the use of payment stablecoins in state transactions. It defines "authorized payment stablecoin" as a GENIUS-qualified or public purpose-qualified stablecoin. The act mandates the Department of Finance to compile a list of authorized stablecoins, while the State Treasurer may suspend or revoke authorization if necessary. The State Treasurer must also coordinate with federal and state regulators to ensure compliance. Vendors and contractors may elect to receive payment in authorized stablecoins, which are deemed valid and enforceable.