A permitted issuer is inserted into an Investment Company Act exclusion
To provide for the regulation of payment stablecoins, and for other purposes, section 17, Sec. 17.
Written by .
A permitted issuer is inserted into an Investment Company Act exclusion
The document says “is amended”Who acts: CongressHow: statuteSec. 17 in the PDF
What the document says
“in section 3(c)(3) of the Act (15 U.S.C. 80a-3(c)(3)), by inserting "any permitted payment stablecoin issuer, as such”
Subsection (b)(2). The words inserted continue that the term is defined in section 2 of the GENIUS Act, and they are placed after the word 'therefor;' in section 3(c)(3) of the Investment Company Act of 1940. The quotation stops before the page break, at which the printer carries the sentence over. What section 3(c)(3) provides is not recorded here, because that Act is not indexed on this site.
What the document actually says
“in section 3(c)(3) of the Act (15 U.S.C. 80a-3(c)(3)), by inserting "any permitted payment stablecoin issuer, as such”
That sentence, in plain words
A cleared coin maker is added to a list in an older law. The words go into one part of that law.
What this is about
That law governs funds that pool people's money. The heading says a cleared maker is not such a fund. What the list does is not recorded here.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Guiding and Establishing National Innovation for U.S. Stablecoins Act, Public Law 119-27, sec. 17, 139 Stat. 462 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ27/html/PLAW-119publ27.htm
This page
“A permitted issuer is inserted into an Investment Company Act exclusion,” Guiding and Establishing National Innovation for U.S. Stablecoins Act, section 17, Sec. 17. Read the Mandate, https://readthemandate.org/guiding-establishing-national-innovation-u-s/proposal/sec17-not-an-investment-company/ (retrieved October 10, 2026).
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