; and (D) tools and incentives that are on decentralized platforms. (5) Other requirements (A) Use of existing global standards Any new technology developed with a grant made under this subsection shall be based on existing global standards, such as those developed by the Internet Engineering Task Force (IETF) and the World Wide Web Consortium (W3C). (B) Supporting existing laws or regulations Tools and programs developed with a grant made under this subsection shall be in support of existing laws or regulations, including the Bank Secrecy Act, and make efforts to balance privacy and anti-money laundering concerns. (C) Open access requirement Tools and programs developed with a grant made under this subsection shall be freely accessible and usable by the public. This requirement may be fulfilled by publicly availing application programming interfaces or software development kits. 6. Definitions For purposes of this Act: (1) Bank Secrecy Act The term Bank Secrecy Act means— (A) section 21 of the Federal Deposit Insurance Act; (B) chapter 2 of title I of Public Law 91–508 ; and (C) subchapter II of chapter 53 of title 31, United States Code. (2) Digital currency The term digital currency — (A) means a digital representation of value that— (i) is used as a medium of exchange, unit of account, or store of value; and (ii) is not established legal tender, whether or not denominated in established legal tender; and (B) does not include— (i) a transaction in which a merchant grants, as part of an affinity or rewards program, value that cannot be taken from or exchanged with the merchant for legal tender, bank credit, or digital currency