Sec. 301. Treatment of digital commodities and permitted payment stablecoins
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/bill/119/hr/3633/eh/section-301A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 2(a)(1) of the Securities Act of 1933 ( 15 U.S.C. 77b(a)(1) ), as amended by the GENIUS Act, is amended by striking the final sentence and inserting the following: The term does not include a digital commodity or permitted payment stablecoin. . Section 3(a)(10) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ), as amended by the GENIUS Act, is amended by striking the final sentence and inserting the following: The term does not include a digital commodity or permitted payment stablecoin. .
Section 202(a) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2(a) ) is amended— in paragraph (18), as amended by the GENIUS Act, by striking the final sentence and inserting the following: The term does not include a digital commodity or permitted payment stablecoin. ; by redesignating the second paragraph
(29)(relating to commodity pools) as paragraph (31); and by adding at the end, the following: The terms digital commodity and permitted payment stablecoin have the meaning given those terms, respectively, under section 2(a) of the Securities Act of 1933 ( 15 U.S.C. 77b(a) ). . Section 2(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–2 ) is amended— in paragraph (36), as amended by the GENIUS Act, by striking the final sentence and inserting the following: The term does not include a digital commodity or permitted payment stablecoin. ; and by adding at the end, the following: The terms digital commodity and permitted payment stablecoin have the meaning given those terms, respectively, under section 2(a) of the Securities Act of 1933 ( 15 U.S.C. 77b(a) ). . Section 16 of the Securities Investor Protection Act of 1970 ( 15 U.S.C. 78lll ) is amended— in paragraph (14), as amended by the GENIUS Act, by striking the final sentence and inserting the following: The term does not include a digital commodity or permitted payment stablecoin, as such terms are defined, respectively, under section 2(a) of the Securities Act of 1933 ( ; and 15 U.S.C. 77b(a) ) by adding at the end the following: A permitted payment stablecoin, as defined in section 2(a) of the Securities Act of 1933, shall not qualify as cash and a claim for a permitted payment stablecoin shall not qualify as a claim for cash . .
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- 15 USC 80b–2(a)
- 15 USC 80a–2
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Sec. 301
Treatment of digital commodities and permitted payment stablecoins
Cite15 USC 80b–2(a)
Cite15 USC 80a–2
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