Sec. 5. Equal treatment for depository institutions
123 words·~1 min read·
/bill/117/s/5340/is/section-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5136 of the Revised Statutes ( 12 U.S.C. 24 ) is amended by adding at the end the following: Twelfth. To issue payment stablecoins. . A depository institution, as defined in section 19(b)(1) of the Federal Reserve Act ( 12 U.S.C. 461(b)(1) )— may segregate into a separate legal entity the issuance of payment stablecoins and management of such payment stablecoin reserve assets from other activities; and that elects to segregate under paragraph (1), or which only issues payment stablecoins or manages payment stablecoin reserve assets— shall be subject to the same tailored regulatory standards as a national limited payment stablecoin issuer for that activity; and shall remain subject to regulation, examination, and supervision by the same regulator as the depository institution.
Connectionstraces to 2
Traces to 2 documents
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources