Payment Stablecoin

Summary

The bill adds a new regulatory framework for companies that issue payment stablecoins, requiring them to obtain a license, submit annual certifications, and comply with oversight by the Office of Financial Regulation (and, in some cases, the OCC). It defines which entities must be licensed, sets reporting and notice requirements, and establishes penalties for non‑compliance. The aim is to bring stablecoin activities under existing money‑services regulations and protect consumers.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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