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United StatesStatute

12 U.S.C. ch. 56 — Regulation of Payment Stablecoins (GENIUS Act, §§ 5901 et seq.)

Current as of 16 provisions

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Provisions

70 in the library

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5906. — State qualified payment stablecoin issuers"]1
  1. State qualified payment stablecoin issuers"]

    State qualified payment stablecoin issuers

    — State qualified payment stablecoin issuers (a) In general A State payment stablecoin regulator shall have supervisory, examination, and enforcement authority…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5902. — Issuance and treatment of payment stablecoins"]1
  1. Issuance and treatment of payment stablecoins"]

    Issuance and treatment of payment stablecoins

    — Issuance and treatment of payment stablecoins (a) Limitation on issuers It shall be unlawful for any person other than a permitted payment stablecoin issuer…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5916. — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]1
  1. Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]

    Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions

    — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions (a) In general The prohibitions…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5907. — Anti-money laundering protections"]1
  1. Anti-money laundering protections"]

    Anti-money laundering protections

    — Anti-money laundering protections (a) Payment stablecoins issued by a foreign payment stablecoin issuer (1) In general A payment stablecoin that is issued by…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5913. — Rulemaking"]1
  1. Rulemaking"]

    Rulemaking

    — Rulemaking (a) In general Not later than 1 year after July 18, 2025 , each primary Federal payment stablecoin regulator, the Secretary of the Treasury, and…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5903. — Requirements for issuing payment stablecoins"]1
  1. Requirements for issuing payment stablecoins"]

    Requirements for issuing payment stablecoins

    — Requirements for issuing payment stablecoins (a) Standards for the issuance of payment stablecoins

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5901. — Definitions"]1
  1. Definitions"]

    Definitions

    — Definitions In this chapter: (1) Appropriate Federal banking agency The term “appropriate Federal banking agency” has the meaning given that term in section…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5912. — Interoperability standards"]1
  1. Interoperability standards"]

    Interoperability standards

    — Interoperability standards The primary Federal payment stablecoin regulators, in consultation with the National Institute of Standards and Technology, other…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5904. — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]1
  1. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]

    Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers

    — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers (a) Application (1) In general Each primary…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5915. — Authority of banking institutions"]1
  1. Authority of banking institutions"]

    Authority of banking institutions

    — Authority of banking institutions (a) Rule of construction Nothing in this chapter may be construed to limit the authority of a depository institution…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions (a) Supervision…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5914. — Reports"]1
  1. Reports"]

    Reports

    — Reports (a) Annual reporting requirement Beginning on the date that is 1 year after July 18, 2025 , and annually thereafter, the primary Federal payment…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5909. — Custody of payment stablecoin reserve and collateral"]1
  1. Custody of payment stablecoin reserve and collateral"]

    Custody of payment stablecoin reserve and collateral

    — Custody of payment stablecoin reserve and collateral (a) In general A person may only engage in the business of providing custodial or safekeeping services…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5911. — Application of existing insolvency law"]1
  1. Application of existing insolvency law"]

    Application of existing insolvency law

    — Application of existing insolvency law In accordance with otherwise applicable law, an insolvency proceeding with respect to a permitted payment stablecoin…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5910. — Treatment of payment stablecoin issuers in insolvency proceedings"]1
  1. Treatment of payment stablecoin issuers in insolvency proceedings"]

    Treatment of payment stablecoin issuers in insolvency proceedings

    — Treatment of payment stablecoin issuers in insolvency proceedings Subject to section 507(e) of title 11 , as added by subsection (d), in any insolvency…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5908. — Anti-money laundering innovation"]1
  1. Anti-money laundering innovation"]

    Anti-money laundering innovation

    — Anti-money laundering innovation (a) Public comment Beginning on the date that is 30 days after July 18, 2025 , and for a period of 60 days thereafter, the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5907. — Anti-money laundering protections"]1
  1. Anti-money laundering protections"]

    Anti-money laundering protections

    — Anti-money laundering protections (1) In general If a foreign payment stablecoin issuer does not come into compliance with the lawful order within 30 days…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5903. — Requirements for issuing payment stablecoins"]1
  1. Requirements for issuing payment stablecoins"]

    Requirements for issuing payment stablecoins

    — Requirements for issuing payment stablecoins (1) In general A permitted payment stablecoin issuer shall— (A) maintain identifiable reserves backing the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5901. — Definitions"]1
  1. Definitions"]

    Definitions

    — Definitions (7) Digital asset service provider The term “digital asset service provider”— (A) means a person that, for compensation or profit, engages in the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5916. — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]1
  1. Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]

    Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions

    — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions (1) In general The Secretary of the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5915. — Authority of banking institutions"]1
  1. Authority of banking institutions"]

    Authority of banking institutions

    — Authority of banking institutions (2) to hold in custody or safekeeping regulatory capital against digital assets and reserves backing such assets described…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5902. — Issuance and treatment of payment stablecoins"]1
  1. Issuance and treatment of payment stablecoins"]

    Issuance and treatment of payment stablecoins

    — Issuance and treatment of payment stablecoins (2) Unusual and exigent circumstances (A) In general If the Secretary of the Treasury determines that unusual…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5909. — Custody of payment stablecoin reserve and collateral"]1
  1. Custody of payment stablecoin reserve and collateral"]

    Custody of payment stablecoin reserve and collateral

    — Custody of payment stablecoin reserve and collateral (1) treat and deal with the payment stablecoins, private keys, cash, and other property of a person for…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5906. — State qualified payment stablecoin issuers"]1
  1. State qualified payment stablecoin issuers"]

    State qualified payment stablecoin issuers

    — State qualified payment stablecoin issuers (1) Board (A) In general Subject to subparagraph (C), under unusual and exigent circumstances that the Board…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions (1) in order to…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5904. — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]1
  1. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]

    Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers

    — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers (1) The ability of the applicant (or, in the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5908. — Anti-money laundering innovation"]1
  1. Anti-money laundering innovation"]

    Anti-money laundering innovation

    — Anti-money laundering innovation (1), the Financial Crimes Enforcement Network shall evaluate and consider the following factors against existing methods…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5915. — Authority of banking institutions"]1
  1. Authority of banking institutions"]

    Authority of banking institutions

    — Authority of banking institutions (2) Rule of construction Nothing in this section shall limit, or be construed to limit, the authority of a host State bank…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5908. — Anti-money laundering innovation"]1
  1. Anti-money laundering innovation"]

    Anti-money laundering innovation

    — Anti-money laundering innovation (1) The implementation of innovative or novel methods, techniques, or strategies by regulated financial institutions to…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5906. — State qualified payment stablecoin issuers"]1
  1. State qualified payment stablecoin issuers"]

    State qualified payment stablecoin issuers

    — State qualified payment stablecoin issuers risk that the liabilities of a holding company and the affiliates of the holding company may be imposed on the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5916. — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]1
  1. Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]

    Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions

    — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions (1), if the Secretary determines…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5904. — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]1
  1. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]

    Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers

    — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers (1) Timing for decisions on applications (A) In…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions (1) Suspension…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5907. — Anti-money laundering protections"]1
  1. Anti-money laundering protections"]

    Anti-money laundering protections

    — Anti-money laundering protections (4) Civil monetary penalties The Secretary of the Treasury may impose a civil monetary penalty as follows: (A) Digital…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5909. — Custody of payment stablecoin reserve and collateral"]1
  1. Custody of payment stablecoin reserve and collateral"]

    Custody of payment stablecoin reserve and collateral

    — Custody of payment stablecoin reserve and collateral (1) or subsection (b)— (A) the payment stablecoin reserves, payment stablecoins, cash, and other…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5901. — Definitions"]1
  1. Definitions"]

    Definitions

    — Definitions (11) Federal qualified payment stablecoin issuer The term “Federal qualified payment stablecoin issuer” means— (A) a nonbank entity, other than a…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5903. — Requirements for issuing payment stablecoins"]1
  1. Requirements for issuing payment stablecoins"]

    Requirements for issuing payment stablecoins

    — Requirements for issuing payment stablecoins market stress; (vi) securities issued by an investment company registered under section 80a–8(a) of title 15…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5902. — Issuance and treatment of payment stablecoins"]1
  1. Issuance and treatment of payment stablecoins"]

    Issuance and treatment of payment stablecoins

    — Issuance and treatment of payment stablecoins (2) eligible as cash or as a cash equivalent margin and collateral for futures commission merchants, derivative…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5908. — Anti-money laundering innovation"]1
  1. Anti-money laundering innovation"]

    Anti-money laundering innovation

    — Anti-money laundering innovation (1) In general Not later than 180 days after July 18, 2025 , the Secretary of the Treasury shall submit to the chairs and…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5903. — Requirements for issuing payment stablecoins"]1
  1. Requirements for issuing payment stablecoins"]

    Requirements for issuing payment stablecoins

    — Requirements for issuing payment stablecoins (1)(A) may not be pledged, rehypothecated, or reused by the permitted payment stablecoin issuer, either directly…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5906. — State qualified payment stablecoin issuers"]1
  1. State qualified payment stablecoin issuers"]

    State qualified payment stablecoin issuers

    — State qualified payment stablecoin issuers (2) Comptroller (A) In general Subject to subparagraph (C), under unusual and exigent circumstances determined to…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5916. — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]1
  1. Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]

    Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions

    — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions (1) Registration (A) In general A…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5901. — Definitions"]1
  1. Definitions"]

    Definitions

    — Definitions (16) Lawful order The term “lawful order” means any final and valid writ, process, order, rule, decree, command, or other requirement issued or…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5904. — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]1
  1. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]

    Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers

    — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers (2) Denial of application (A) Grounds for denial…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5909. — Custody of payment stablecoin reserve and collateral"]1
  1. Custody of payment stablecoin reserve and collateral"]

    Custody of payment stablecoin reserve and collateral

    — Custody of payment stablecoin reserve and collateral as belonging to such permitted payment stablecoin issuers or customers; or (D) an insured depository…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5907. — Anti-money laundering protections"]1
  1. Anti-money laundering protections"]

    Anti-money laundering protections

    — Anti-money laundering protections (1)(A) shall be subject to a civil monetary penalty of not more than $1,000,000 per violation per day, and the Secretary of…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions (2)…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5901. — Definitions"]1
  1. Definitions"]

    Definitions

    — Definitions (22) Payment stablecoin The term “payment stablecoin”— (A) means a digital asset— (i) that is, or is designed to be, used as a means of payment…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions (3) Removal and…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5903. — Requirements for issuing payment stablecoins"]1
  1. Requirements for issuing payment stablecoins"]

    Requirements for issuing payment stablecoins

    — Requirements for issuing payment stablecoins (1)(D) 2 examined by a registered public accounting firm. (B) Certification Each month, the Chief Executive…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5908. — Anti-money laundering innovation"]1
  1. Anti-money laundering innovation"]

    Anti-money laundering innovation

    — Anti-money laundering innovation (2) Classified annex A report under this section may include a classified annex, if applicable. (f) Rule of construction…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5904. — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]1
  1. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]

    Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers

    — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers place at which the applicant may appear…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5906. — State qualified payment stablecoin issuers"]1
  1. State qualified payment stablecoin issuers"]

    State qualified payment stablecoin issuers

    — State qualified payment stablecoin issuers issuer that might create a serious risk that the liabilities of a holding company and the affiliates of the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5916. — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]1
  1. Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]

    Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions

    — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions relating to the standards for…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5907. — Anti-money laundering protections"]1
  1. Anti-money laundering protections"]

    Anti-money laundering protections

    — Anti-money laundering protections (1) In general The Secretary of the Treasury may offer a waiver, general license, or specific license to any United States…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5916. — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]1
  1. Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions"]

    Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions

    — Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions (1) In general The Secretary of the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions (3), the primary…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5906. — State qualified payment stablecoin issuers"]1
  1. State qualified payment stablecoin issuers"]

    State qualified payment stablecoin issuers

    — State qualified payment stablecoin issuers (1) Host State law Notwithstanding any other provision of law, the laws of a host State, including laws relating…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5903. — Requirements for issuing payment stablecoins"]1
  1. Requirements for issuing payment stablecoins"]

    Requirements for issuing payment stablecoins

    — Requirements for issuing payment stablecoins (1)(A); (iii) reserve asset diversification, including deposit concentration at banking institutions, and…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5907. — Anti-money laundering protections"]1
  1. Anti-money laundering protections"]

    Anti-money laundering protections

    — Anti-money laundering protections (3), the Secretary of the Treasury shall submit to the chairs and ranking members of the Committee on Banking, Housing, and…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5904. — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]1
  1. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]

    Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers

    — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers (2) annually report to Congress on the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5901. — Definitions"]1
  1. Definitions"]

    Definitions

    — Definitions (24) Person The term “person” means an individual, partnership, company, corporation, association, trust, estate, cooperative organization, or…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5904. — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]1
  1. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]

    Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers

    — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers (2) a Federal qualified payment stablecoin…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5901. — Definitions"]1
  1. Definitions"]

    Definitions

    — Definitions (29) State chartered depository institution The term “State chartered depository institution” has the meaning given the term “State depository…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions (3), or the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5903. — Requirements for issuing payment stablecoins"]1
  1. Requirements for issuing payment stablecoins"]

    Requirements for issuing payment stablecoins

    — Requirements for issuing payment stablecoins (3) of this title . (ii) Applicability of Financial Stability Act With respect to the promulgation of rules…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions (5) Civil money…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5904. — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]1
  1. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers"]

    Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers

    — Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers (1) In general Not later than 180 days after the…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5905. — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]1
  1. Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions"]

    Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions

    — Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions additional…

["Title 12 — BANKS AND BANKING", "CHAPTER 56 — REGULATION OF PAYMENT STABLECOINS", "§ 5903. — Requirements for issuing payment stablecoins"]1
  1. Requirements for issuing payment stablecoins"]

    Requirements for issuing payment stablecoins

    — Requirements for issuing payment stablecoins (6) Coordination with permitted payment stablecoin issuers with respect to blocking of property and…

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