A foreign issuer must register with the Comptroller to use a service provider
What the document says“A foreign payment stablecoin issuer may offer or sell payment stablecoins using a digital asset service provider if the foreign payment stablecoin issuer is registered with the Comptroller.”
Subsection (c)(1). A registration filed in accordance with the section is deemed approved 30 days after the Comptroller receives it, unless the Comptroller notifies the issuer in writing that it has been rejected. Five things are considered in deciding whether to reject: the Secretary's final determination, the financial and managerial resources of the issuer's United States operations, whether the issuer will provide adequate information to the Comptroller, whether the stablecoin presents a risk to the financial stability of the United States, and whether the issuer presents illicit finance risks. A rejected issuer may appeal within 30 days by notifying the Comptroller. The Comptroller is to issue rules on the standards for approval and the appeal process, and to keep a public list of approved registrations.
What the document actually says“A foreign payment stablecoin issuer may offer or sell payment stablecoins using a digital asset service provider if the foreign payment stablecoin issuer is registered with the Comptroller.”
A maker set up abroad may sell coins here through a digital coin firm. First it must sign up with a federal office.
That office is the Comptroller of the Currency. Silence for 30 days counts as a yes. A no can be appealed within 30 days.
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