SEC. 11. TREATMENT OF PAYMENT STABLECOIN ISSUERS IN INSOLVENCY PROCEEDINGS

Subject to, as added by subsection (d), in any insolvency proceeding of a permitted payment stablecoin issuer under Federal or State law, including any proceeding under that title and any insolvency proceeding administered by a State payment stablecoin regulator with respect to a permitted payment stablecoin issuer—

is amended adding “(40C) The terms ‘payment stablecoin’ and ‘permitted payment stablecoin issuer’ have the meanings given those terms in section 2 of the GENIUS Act.” ,byafter paragraph (40B) the following:.

is amended ,—

is amended ,—

is amended ,—

is amended adding “(c) The Comptroller of the Currency or State payment stablecoin regulator (as defined in section 2 of the GENIUS Act) shall raise, and shall appear and be heard on, any issue, including the protection of customers, in a case under this chapter in which the debtor is a permitted payment stablecoin issuer.” ,byat the end the following:.

In accordance with otherwise applicable law, an insolvency proceeding with respect to a permitted payment stablecoin issuer shall occur as follows: