Wrong.
Section 10305(b)(1) expressly protected stablecoin issuers from private lawsuits for voluntary, temporary holds based on a reasonable belief of a violation of law. No court order required.
Here's the relevant language.
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Apparently harmonization extends to the morning release schedule too.
This is a meaningful expansion of the @phantom framework. Similarly situated software providers now have a path to operate in, subject to clear conditions.
Thank you to @ChairmanSelig and the @CFTC staff.
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1/ I must be looking at a different version of the Clarity Act.
The WSJ story is about sanctioned entities allegedly moving funds through an offshore exchange. The bill I’ve pored over for months includes quite a bit aimed at exactly that kind of risk.
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