Sec. 504. Notice to customers; enforcement
141 words·~1 min read·
/bill/117/s/4356/is/section-504A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Chapter 98 of title 31, United States Code, as amended by section 503 of this Act, is amended by adding at the end the following: In providing disclosures and carrying out other duties under this chapter, a person who provides digital asset services in or affecting interstate commerce shall have a duty to provide higher standards of customer notice and acknowledgment if there is likely to be a material impact on the economic value of the digital asset of a customer. The standards under this chapter shall be enforced in an appropriate manner, commensurate with other customer protection standards— in the case of a digital asset intermediary, by the Federal or State licensing, registration, or chartering authority of the intermediary; and in the case of a depository institution or other financial institution, by the appropriate State or Federal banking supervisor. .