Amendments to Clarify That Payment Stablecoins Are Not Securities or Commodities and Permitted Payment Stablecoin Issuers Are Not Investment Companies
Section 17 · Sec. 17 ·
What this chapter is about
This part changes six older laws. Each change says the same thing. A coin from a cleared maker is not a security. One change says it is not a commodity either. Another says a cleared maker is not an investment company.
The document says “is amended”Who acts: CongressHow: statuteSec. 17 in the PDF
What the document says
“The term `security' does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the GENIUS Act.”
Subsections (a) through (e). The same sentence is added to the definition of security in five statutes: section 202(a)(18) of the Investment Advisers Act of 1940 (15 U.S.C. 80b-2(a)(18)), section 2(a)(36) of the Investment Company Act of 1940 (15 U.S.C. 80a-2(a)(36)), section 2(a)(1) of the Securities Act of 1933 (15 U.S.C. 77b(a)(1)), section 3(a)(10) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(10)), and section 16(14) of the Securities Investor Protection Act of 1970 (15 U.S.C. 78lll(14)). Section 2(22)(B)(iii) of this Act makes the same point from the other direction.
What the document actually says
“The term `security' does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the GENIUS Act.”
That sentence, in plain words
One kind of coin is taken out of the word security. That is a coin from a cleared maker. This law says what those words mean.
What this is about
The same line is added to five older laws. Those laws govern stocks and bonds. None of them is part of this site.
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.
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.
The document says “is amended”Who acts: CongressHow: statuteSec. 17 in the PDF
What the document says
“Section 1a(9) of the Commodity Exchange Act (7 U.S.C. 1a(9)) is amended by adding at the end the following: "The term `commodity' does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the GENIUS Act.".”
Subsection (f). The sentence is added to the definition of commodity in section 1a(9) of the Commodity Exchange Act (7 U.S.C. 1a(9)). What that Act otherwise covers is not recorded here, because it is not indexed on this site.
What the document actually says
“Section 1a(9) of the Commodity Exchange Act (7 U.S.C. 1a(9)) is amended by adding at the end the following: "The term `commodity' does not include a payment stablecoin issued by a permitted payment stablecoin issuer, as such terms are defined in section 2 of the GENIUS Act.".”
That sentence, in plain words
A coin from a cleared maker is not a commodity. That word is defined in a law on futures trading. This line takes the coin out of it.
What this is about
A commodity is a good like oil or wheat. Trading in them has its own rule book. This says these coins do not fall under it.
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
“Amendments to Clarify That Payment Stablecoins Are Not Securities or Commodities and Permitted Payment Stablecoin Issuers Are Not Investment Companies,” Guiding and Establishing National Innovation for U.S. Stablecoins Act, section 17. Read the Mandate, https://readthemandate.org/guiding-establishing-national-innovation-u-s/section-17/ (retrieved August 26, 2026).
Cite the document when the claim is about what the document says. Cite this page when the indexing, the wording or the record of what has happened is what is being relied on.
What This Page Covers, and What It Leaves Out
The three things the section does: the words added to five securities laws so that a payment stablecoin issued by a permitted payment stablecoin issuer is not a security, the insertion that keeps a permitted payment stablecoin issuer out of a category in the Investment Company Act of 1940, and the words added to the Commodity Exchange Act so that such a stablecoin is not a commodity.
The five securities law amendments are recorded as one proposal rather than five, because each inserts the same sentence into a different definition. Each statute amended is named in the summary.
Every subsection works by amending an older statute. None of those statutes is indexed on this site. The words this Act inserts are recorded here; what those laws said before, and what they say once the amendments are applied, are not.
