Sec. 202. Enforcement of consumer protection requirements
197 words·~1 min read·
/bill/118/s/2281/is/section-202·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Chapter 98 of title 31, United States Code, as added by section 101(a) of this Act, is amended by adding at the end the following: Except as otherwise provided by this chapter, the standards of this chapter shall be enforced in an appropriate manner, commensurate with other customer protection standards— in the case of a crypto asset intermediary, if a crypto asset customer protection and market integrity authority has been chartered, by that authority; in the case of crypto asset intermediary, if a crypto asset customer protection and market integrity authority has not been chartered, by the Federal or State licensing, registration, or chartering authority of the intermediary; and in the case of a depository institution or other chartered financial institution, by the appropriate State or Federal banking supervisor.
The Federal agencies specified in paragraphs
(2)and
(3)of subsection
(a)shall promulgate final rules to implement this title not later than 2 years after the date of enactment of this section. . The table of sections for chapter 98 of title 31, United States Code, as added by section 101(a) of this Act, is amended by adding at the end the following: 9802. Enforcement; rules. .