Knowing participation in issuing without permission carries a fine and prison term
What the document says“Whoever knowingly participates in a violation of subsection (a) shall be fined not more than $1,000,000 for each such violation, imprisoned for not more than 5 years, or both.”
Subsection (f)(1). The penalty attaches to knowing participation in a violation of subsection (a), the ban on issuing without permission. Under paragraph (2), a primary Federal payment stablecoin regulator that has reason to believe a person knowingly violated subsection (a) may refer the matter to the Attorney General.
What the document actually says“Whoever knowingly participates in a violation of subsection (a) shall be fined not more than $1,000,000 for each such violation, imprisoned for not more than 5 years, or both.”
Someone who joins in this on purpose can be fined. The fine can reach one million dollars each time. They can also be locked up for up to five years.
This is about the ban on making coins with no clearance. A federal watchdog may send the case on. It goes to the Attorney General.
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