IN
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banks are
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hereby directed to establish and maintain pass-
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through digital dollar wallets for all persons eli-
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gible to receive payments from the United
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States pursuant to this Act who elect to deposit
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such payments into a pass-through digital dol-
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lar wallet.¿
ø(B) SEPARATE
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ø(i) IN
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ENTITY.—
GENERAL.—Each
member
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bank shall establish and maintain a sepa-
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rate legal entity for the exclusive purpose
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of holding all assets and maintaining all li-
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abilities associated with pass-through dig-
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ital dollar wallets.¿
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ø(ii) ASSETS.—The assets of any enti-
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ty described in this paragraph shall consist
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exclusively of a balance maintained in a
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master account at a Federal reserve bank,
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and the liabilities or obligations of the enti-
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ty shall consist exclusively of an equal
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quantity of balances maintained by holders
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of pass-through digital dollar wallets.¿
ø(iii)
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