Definitions.

Issuance and treatment of payment stablecoins.

Requirements for issuing payment stablecoins.

Approval of subsidiaries of insured depository institutions and Federal qualified payment stablecoin issuers.

Supervision and enforcement with respect to Federal qualified payment stablecoin issuers and subsidiaries of insured depository institutions.

State qualified payment stablecoin issuers.

Anti-money laundering protections.

Anti-money laundering innovation.

Custody of payment stablecoin reserve and collateral.

Treatment of payment stablecoin issuers in insolvency proceedings.

Application of existing insolvency law.

Interoperability standards.

Rulemaking.

Reports.

Authority of banking institutions.

Exception for foreign payment stablecoin issuers and reciprocity for payment stablecoins issued in overseas jurisdictions.