Sec. 705. Examination standards for digital asset activities
158 words·~1 min read·
/bill/117/s/4356/is/section-705A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 18 months after the date of enactment of this Act, the Federal Financial Institutions Examination Council, in consultation with the Financial Crimes Enforcement Network, shall publish final guidance and examiner handbooks for depository institutions, as defined in section 19(b)(1) of the Federal Reserve Act ( 12 U.S.C. 461(b)(1) ), on the following topics related to digital assets: Anti-money laundering, customer identification, beneficial ownership, and sanctions compliance, including with respect to payment stablecoin activities and subsidiary value (as defined in section 9802(c) of title 31, United States Code).
Custody. Fiduciary and capital markets activities. Information technology standards. Payment system risk. Consumer protection. Not later than 18 months after the date of enactment of this Act, Securities and Exchange Commission and Commodity Futures Trading Commission, in consultation with the Financial Crimes Enforcement Network, shall publish final guidance and examiner handbooks relating to digital asset intermediaries regarding the topics described in paragraphs
(1)and
(4)of subsection (a).
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 705
Examination standards for digital asset activities
Cites 1Cited by 0 across 0 sources