Code · BILL · 118th Congress · S. 4155 (Introduced in Senate) — To provide for effective regulation of payment stablecoins, and for other purposes. · Sec. 14

Sec. 14. Accounting treatment of custodial assets

65 words·~1 min read·/bill/118/s/4155/is/section-14

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Crypto assets properly held in a custodial account shall not be considered assets or liabilities of the custodian for any purpose and shall be maintained on an off-balance sheet basis, including for the purpose of accounting treatment for the custodian, notwithstanding the form in which the assets are maintained, and for the purposes of the capital calculations of depository institutions and all other financial institutions.