Sec. 322. Directed rulemaking FDIC and NCUA website disclosure on digital assets and insurance noncoverage
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Not later than 90 days after the date of the enactment of this Act, the Federal Deposit Insurance Corporation and the National Credit Union Administration shall each make publicly available on the website of such entity a notice— regarding the treatment of digital assets and digital asset securities; that digital assets and digital asset securities are not deposits or shares and are not covered by Federal deposit insurance (FDIC or NCUA), regardless of whether an insured bank, savings association, or credit union holds the digital assets or digital assets securities; and such notice shall specifically address whether the FDIC Nondeposit Investment Product
(NDIP)Policy Statement and related disclosure obligations or similar NCUA requirements apply to digital assets and digital asset securities. In this section, the term digital asset has the meaning given the term in section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a ). In this section, the term digital asset security has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. Sec. 78c(a)).
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Sec. 322
Directed rulemaking FDIC and NCUA website disclosure on digital assets and insurance noncoverage
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