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Code · BILL · 117th Congress · S. 5340 (Introduced in Senate) — To provide a regulatory framework and consumer protections for the issuance of payment stablecoins, and for other pur... · Sec. 9

Sec. 9. Treatment of insolvent payment stablecoin issuers

61 words·~1 min read·/bill/117/s/5340/is/section-9·

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In any insolvency proceeding, including any proceeding under title 11, United States Code, or any insolvency proceeding by an appropriate Federal banking agency or a State banking supervisor with respect to a payment stablecoin issuer, a claim of a person holding payment stablecoins issued by the payment stablecoin issuer shall have priority over all other claims against the payment stablecoin issuer.
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