1. Short title This Act may be cited as the Managed Stablecoins are Securities Act of 2019 . 2. Sense of Congress It is the sense of Congress that— (1) digital assets, known as managed sta­ble­coins, are investment contracts and therefore are securities within the meaning given the term in section 2(a) of the Securities Act of 1933; and (2) because issuers of managed stablecoins nevertheless maintain that managed stablecoins are not securities, it is appropriate for Congress to provide clarity by amending statutory definitions of the term security to include managed stablecoins. 3. Managed Stablecoins (a) Definitions Under the Securities Act of 1933 Section 2(a) of the Securities Act of 1933 ( 15 U.S.C. 77b(a) ) is amended— (1) in paragraph (1)— (A) by inserting , regardless of form after any of the foregoing ; and (B) by inserting , managed stablecoin, after national securities exchange relating to foreign currency ; and (2) by adding at the end the following: (20) The term managed stablecoin means a digital asset that— (A) is not a security registered under section 8(a) of the Investment Company Act of 1940