The chief executive and chief financial officers must certify the monthly report
What the document says“Each month, the Chief Executive Officer and Chief Financial Officer of a permitted payment stablecoin issuer shall submit a certification as to the accuracy of the monthly report”
Subsection (a)(3)(B) and (C). The certification goes to the issuer's primary Federal payment stablecoin regulator, or to its State payment stablecoin regulator where that applies. A person who submits the certification knowing it is false is subject to the same criminal penalties as those set out in section 1350(c) of title 18, United States Code.
What the document actually says“Each month, the Chief Executive Officer and Chief Financial Officer of a permitted payment stablecoin issuer shall submit a certification as to the accuracy of the monthly report”
Two top officers must sign off on the report each month. They swear that what it says is right.
The signed paper goes to the watchdog for that maker. Signing a false one is a crime. The law points to the penalty another law already sets.
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