Rule of construction
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The wording changed from Introduced to Committee version. Removed words are struck through; added words are underlined.
How the text changed
A digital asset shall not be construed to be a payment stablecoin, stablecoin if it is— (1) redeemable by the issuer exclusively for other digital assets, provided that such digital assets for which it is redeemable are not primarily— (A) payment stablecoins; or (B) representations of permissible reserves described under section 4(a)(1)(A) or similar such assets; or (2) primarily used within a system controlled by such digital asset’s issuer as a means of accessing products, services, or loyalty rewards.
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