Code · BILL · 117th Congress · S. 4356 (Introduced in Senate) — To provide for responsible financial innovation and to bring digital assets within the regulatory perimeter. · Sec. 602

Sec. 602. Sanctions compliance responsibilities of payment stablecoin issuers

61 words·~1 min read·/bill/117/s/4356/is/section-602

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Not later than 120 days after the date of the enactment of this Act, the Secretary of the Treasury shall adopt final guidance clarifying the sanctions compliance responsibilities and liability of an issuer of a payment stablecoin with respect to downstream transactions relating to the stablecoin that take place after the stablecoin is first provided to a customer of the issuer.