§5904. Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers — Inbound Citations
12 U.S.C. § 5904
Cited by 6 provisions in release 119-102.
Citations to 12 U.S.C. § 5904 as a whole
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(A) a nonbank entity, other than a State qualified payment stablecoin issuer, approved by the Comptroller, pursuant to section 5904 of this title, to issue payment stablecoins;
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(ii) that is approved by the Comptroller, pursuant to section 5904 of this title, to issue payment stablecoins; and
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(C) a Federal branch that is approved by the Comptroller, pursuant to section 5904 of this title, to issue payment stablecoins.
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(A) a subsidiary of an insured depository institution that has been approved to issue payment stablecoins under section 5904 of this title;
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(1) Notwithstanding section 25b of this title, section 6 of the Home Owners’ Loan Act (12 U.S.C. 1465), or any applicable State law relating to licensing and supervision, a Federal qualified payment stablecoin issuer approved by the Comptroller pursuant to section 5904 of this title shall be licensed, regulated, examined, and supervised exclusively by the Comptroller, which shall have authority, in coordination with other relevant primary Federal payment stablecoin regulators and State payment stablecoin regulators, to issue such regulations and orders as necessary to ensure financial stability and implement subsection (a).
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(2) a summary of the number of applications for approval as a permitted payment stablecoin issuer under section 5904 of this title, including aggregate approvals and rejections of applications; and