Bill Text
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§3(a)
(a) .— Limitation on Issuers
It shall be unlawful for any person other than a permitted payment stablecoin issuer to issue a payment stablecoin in the United States.
§3(d)📜 Rulemaking
(d) .— Rulemaking
Consistent with section 13, the Secretary of the Treasury shall issue regulations to implement this section, including regulations to define terms.
§3(e)
(e) .— Extraterritorial Effect
This section is intended to have extraterritorial effect if conduct involves the offer or sale of a payment stablecoin to a person located in the United States.
A payment stablecoin that is not issued by a permitted payment stablecoin issuer shall not be—