SEC. 4 › (a) › (7)
(7) .— Limitation on payment stablecoin activities
Bill Text
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A permitted payment stablecoin issuer may only—
§4(a)(7)(B)
(B) .— Rule of construction
Nothing in subparagraph (A) shall limit a permitted payment stablecoin issuer from engaging in payment stablecoin activities or digital asset service provider activities specified by this Act, and activities incidental thereto, that are authorized by the primary Federal payment stablecoin regulator or the State payment stablecoin regulator, as applicable, consistent with all other Federal and State laws, provided that the claims of payment stablecoin holders rank senior to any potential claims of non-stablecoin creditors with respect to the reserve assets, consistent with section 11.
Parent Section
SEC. 4(a) .— Standards for the Issuance of Payment St...
Related Sections
Other sections under SEC. 4 › (a)
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