The Foreign Stablecoin Transparency Act would require foreign companies that issue stablecoins (digital currencies pegged to traditional assets like the U.S. dollar) to meet stricter financial disclosure requirements, bringing them in line with U.S. issuers. Specifically, foreign stablecoin issuers with more than $50 billion in outstanding stablecoins would need to prepare annual financial statements following standard accounting principles and have those statements audited by registered accounting firms using federal auditing standards. This requirement applies only to foreign issuers not already subject to U.S. Securities and Exchange Commission reporting rules. The bill amends the GENIUS Act and aims to increase transparency and oversight of large foreign stablecoin operations, though it does not alter the authority of federal accounting regulators.