Sec. 17. AMENDMENTS TO CLARIFY THAT PAYMENT STABLECOINS ARE NOT SECURITIES OR COMMODITIES AND PERMITTED PAYMENT STABLECOIN ISSUERS ARE NOT INVESTMENT COMPANIES

401 words·~2 min read·/statute-compilations/comps-18221/sec-17

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

## SEC. 17 AMENDMENTS TO CLARIFY THAT PAYMENT STABLECOINS ARE NOT SECURITIES OR COMMODITIES AND PERMITTED PAYMENT STABLECOIN ISSUERS ARE NOT INVESTMENT COMPANIES ###

(a)Investment Advisers Act of 1940 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 GENIUS Act.”. ###

(b)Investment Company Act of 1940 The Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.) is amended ####

(1)in section 2(a)(36) of the Act (15 U.S.C. 80a-2(a)(36)), 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 GENIUS Act.”; and ####

(2)in section 3(c)(3) of the Act (15 U.S.C. 80a-3(c)(3)), by inserting “any permitted payment stablecoin issuer, as such 139 STAT. 463 term is defined in section 2 of the GENIUS Act;” after “therefor;”. ###

(c)Securities Act of 1933 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 GENIUS Act.”. ###

(d)Securities Exchange Act of 1934 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 GENIUS Act.”. ###

(e)Securities Investor Protection Act of 1970 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 GENIUS Act.”. ###

(f)Commodity Exchange Act Section 1a(9) of the Commodity Exchange Act (7 U.S.C. 1a(9)) 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 GENIUS Act.”.

Connectionstraces to 8

Traces to 8 documents

U.S. Code

Citation graph

cites case law

Sec. 17

AMENDMENTS TO CLARIFY THAT PAYMENT STABLECOINS ARE NOT SECURITIES OR COMMODITIES AND PERMITTED PAYMENT STABLECOIN ISSUERS ARE NOT INVESTMENT COMPANIES

Cites 8Cited by 0 across 0 sources