; and (2) the Permanent Select Committee on Intelligence, the Committee on Financial Services, and the Committee on Foreign Affairs of the House of Representatives. VI Regulatory authority and sunset 601. Regulatory authority (a) In general The President shall, not later than 90 days after the date of the enactment of this Act, promulgate regulations as necessary for the implementation of this Act and the amendments made by this Act. (b) Notification to Congress Not less than 10 days before the promulgation of regulations under subsection (a), the President shall notify and provide to the appropriate congressional committees the proposed regulations and the provisions of this Act and the amendments made by this Act that the regulations are implementing. (c) Definition In this section, the term appropriate congressional committees means— (1) the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives; and (2) the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate. 602. Sunset This Act shall cease to be effective beginning on December 31, 2021.