Sec. 410. Registration and requirements for notice-registered digital asset clearing agencies
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/bill/118/hr/4763/rfs/section-410·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 17A(b) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78q-1(b) ) is amended— in subsection (1), by inserting after the first sentence the following: The previous sentence shall not apply to a notice-registered digital asset clearing agency with respect to a restricted digital asset. ; and by adding at the end the following: A person may register with the Commission as a notice-registered digital asset clearing agency if the person— is otherwise registered as a digital asset broker or digital asset dealer with the Commission and is engaging in a business involving restricted digital assets, in compliance with Commission rules pursuant to section 15H(f); is a bank; or is a clearing agency already registered with the Commission pursuant to this section.
A person may register with the Commission as a notice-registered digital asset clearing agency by filing with the Commission a notice of the activities of the person or planned activities in such form as the Commission determines appropriate. The registration of a person filing a notice described under subparagraph
(B)as a notice-registered digital asset clearing agency shall be effective upon publication by the Commission of such notice, which shall occur no later than 14 days after the date of such filing. A person registered as a notice-registered digital asset clearing agency before the date on which the Commission adopts rules under subparagraph
(D)shall, after such rules are adopted, renew the person’s registration pursuant to such rules. Notwithstanding subclause (I), a person registered as a notice-registered digital asset clearing agency before the end of the 2-year period beginning on the date of the enactment of this section shall have such registration remain in effect until the end of such 2-year period. The Commission may adopt rules, which may not take effect until at least 360 days following the date of enactment of this paragraph, with regard to the activities of notice-registered digital asset clearing agencies, taking into account the nature of restricted digital assets. .
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Sec. 410
Registration and requirements for notice-registered digital asset clearing agencies
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