Digital commodity activities that are financial in nature

(a) Digital commodity activities that are financial in nature Section 4(k)(4) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)(4)) is amended— (1) in subparagraph (A), by striking or securities and inserting, securities, or digital commodities; and (2) in subparagraph (E), by inserting or digital commodities before the period at the end. (b) National bank activity (1) In general A national bank may use a digital asset or blockchain system to perform, provide, or deliver any activity, function, product, or service that the national bank is otherwise authorized by law to perform, provide, or deliver. (2) Rule of construction Nothing in this subsection may be construed to exempt a national bank’s performance, provision, or delivery of an activity, function, product, or service from a requirement that would apply if the activity were not performed, provided, or delivered using a digital asset or blockchain system. (c) Insured State banks and subsidiaries of insured State banks For purposes of sections 24(a) and 24(d) of the Federal Deposit Insurance Act (12 U.S.C. 1831a(a) and (d)), all of the activities authorized for a national bank under subsection (b) that are principal activities shall be permissible for an insured State bank and subsidiary of an insured State bank.