Sec. 15. Amendments to clarify that payment stablecoins are not securities or commodities and permitted payment stablecoin issuers are not investment companies
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Section 202(a)(18) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2(a)(18) ) is amended by adding at the end the following: The term . security does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 . The Investment Company Act of 1940 is amended— in section 2(a)(36) ( 15 U.S.C. 80a–2(a)(36) )( 15 U.S.C. 80a–2(a)(36) ), by adding at the end the following:
The term ; and security does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 . in section 3(c)(3) ( 15 U.S.C. 80a–3(c)(3) ), by inserting any permitted payment stablecoin issuer, as such term is defined in section 2 of the after Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 ; therefor; . Section 2(a)(1) of the Securities Act of 1933 ( 15 U.S.C. 77b(a)(1) ) is amended by adding at the end the following:
The term . security does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 . Section 3(a)(10) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a)(10) ) is amended by adding at the end the following: The term . security does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the Guiding and Establishing National Innovation for U.S.
Stablecoins Act of 2025 . Section 16(14) of the Securities Investor Protection Act of 1970 ( 15 U.S.C. 78lll(14) ) is amended by adding at the end the following: The term . security does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 . Section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a ) is amended by adding at the end the following:
The term commodity does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the Guiding and Establishing National Innovation for U.S. payment stablecoins Act of 2025 .
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- 15 USC 80b–2(a)(18)
- 15 USC 80a–2(a)(36)
- 15 USC 80a–3(c)(3)
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Sec. 15
Amendments to clarify that payment stablecoins are not securities or commodities and permitted payment stablecoin issuers are not investment companies
Cite15 USC 80b–2(a)(18)
Cite15 USC 80a–2(a)(36)
Cite15 USC 80a–3(c)(3)
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