republic-os/legal/us/code/title-12/chapter-56/section-5915.md

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LegalText	12 U.S.C. § 5915	Authority of banking institutions	us	united_states_code	code_section	12	BANKS AND BANKING	56	REGULATION OF PAYMENT STABLECOINS	5915	12 U.S.C. § 5915	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip	/us/usc/t12/s5915	data/legal/raw/us/code/title-12/usc12.xml	5697e10c109597298a6e0d37ce47973dfdf9413ba9a7f16d11ef2e8a1702c426	e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa	987abaf29201d4076afe95fcbf14e2c82d6e3bbd67a61d16fcb513081140d13d	2026-07-04	official	legal us-code

12 U.S.C. § 5915 - Authority of banking institutions

Text

(a) Rule of construction Nothing in this chapter may be construed to limit the authority of a depository institution, Federal credit union, State credit union, national bank, or trust company to engage in activities permissible pursuant to applicable State and Federal law, including—

(1) accepting or receiving deposits or shares (in the case of a credit union), and issuing digital assets that represent those deposits or shares;

(2) utilizing a distributed ledger for the books and records of the entity and to effect intrabank transfers; and

(3) providing custodial services for payment stablecoins, private keys of payment stablecoins, or reserves backing payment stablecoins.

(b) Regulatory review Entities regulated by the primary Federal payment stablecoin regulators are authorized to engage in the payment stablecoin activities and investments contemplated by this chapter, including acting as a principal or agent with respect to any payment stablecoin and payment of fees to facilitate customer transactions. The primary Federal payment stablecoin regulators shall review all existing guidance and regulations, and if necessary, amend or promulgate new regulations and guidance, to clarify that regulated entities are authorized to engage in such activities and investments.

(c) Treatment of custody activities The appropriate Federal banking agency, the National Credit Union Administration (in the case of a credit union), and the Securities and Exchange Commission may not require a depository institution, national bank, Federal credit union, State credit union, or trust company, or any affiliate thereof—

(1) to include digital assets held in custody that are not owned by the entity as a liability on the financial statement or balance sheet of the entity, including payment stablecoin custody or safekeeping activities; or

(2) to hold in custody or safekeeping regulatory capital against digital assets and reserves backing such assets described in section 5903(a)(1)(A) of this title, except as necessary to mitigate against operational risks inherent in custody or safekeeping services, as determined by—

(A) the appropriate Federal banking agency;

(B) the National Credit Union Administration (in the case of a credit union);

(C) a State bank supervisor; or

(D) a State credit union supervisor.

(d) State-chartered depository institutions (1) In general A depository institution chartered under the banking laws of a State, that has a subsidiary that is a permitted payment stablecoin issuer, may engage in the business of money transmission or provide custodial services through the permitted payment stablecoin issuer in any State if such State-chartered depository institution is—

(A) required by the laws or regulations of the home State to establish and maintain adequate liquidity, and such liquidity is regularly reassessed by the home State banking supervisor to take into account any changes in the financial condition and risk profile of the institution, including any uninsured deposits maintained by such institution; and

(B) required by the laws or regulations of the home State to establish and maintain adequate capital, and such capital is regularly reassessed by the home State banking supervisor to take into account any changes in the financial condition and risk profile of the institution, including any uninsured deposits maintained by such institution.

(2) Rule of construction Nothing in this section shall limit, or be construed to limit, the authority of a host State bank regulator, to perform examinations of a depository institution’s subsidiary permitted payment stablecoin issuer or activities conducted through the permitted payment stablecoin issuer to ensure compliance with host State consumer protection laws that the host State bank regulator has specific jurisdiction to enforce, which shall apply to such institution consistent with section 5906(f) of this title.

(e) Definitions In this section:

(1) Home State The term “home State” means the State by which the depository institution is chartered.

(2) Host State The term “host State” means a State in which a depository institution establishes a branch, solicits customers, or otherwise engages in business activities, other than the home State.

(Pub. L. 119–27, § 16, July 18, 2025, 139 Stat. 461.)

Notes

Delayed Effective Date of SectionFor delayed effective date of section, see Effective Date note below.

Editorial Notes

References in TextThis chapter, referred to in subsecs. (a) and (b), was in the original “this Act”, meaning Pub. L. 119–27, July 18, 2025, 139 Stat. 419, known as the Guiding and Establishing National Innovation for U.S. Stablecoins Act and also as the GENIUS Act, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 5901 of this title and Tables.

Statutory Notes and Related Subsidiaries

Effective DateSection effective on the earlier of the date that is 18 months after July 18, 2025, or the date that is 120 days after the date on which the primary Federal payment stablecoin regulators issue any final regulations implementing Pub. L. 119–27, see section 20 of Pub. L. 119–27, set out as a note under section 5901 of this title.