; crypto asset intermediary; distributed ledger technology; payment stablecoin; smart contract The terms crypto asset , crypto asset intermediary , distributed ledger technology , payment stablecoin and smart contract have the meanings given the terms in section 9801 of title 31, United States Code, as added by section 101 of this Act. (3) Security Except as otherwise expressly provided, the term security has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ). I Definitions 101. Definitions (a) In general Subtitle VI of title 31, United States Code, is amended by adding after chapter 97 the following: 98 Crypto assets Sec. 9801. Definitions. 9801. Definitions In this chapter: (1) Appropriate commission The term appropriate commission means the Commodity Futures Trading Commission or the Securities and Exchange Commission, or both, if applicable, based on the commission that has statutory jurisdiction over a crypto asset intermediary and acts as the primary registration or licensing authority for that intermediary. (2) Crypto asset The term crypto asset — (A) means a natively electronic asset that— (i) confers economic, proprietary, or access rights or powers; (ii) is recorded using cryptographically secured distributed ledger technology, or any similar analogue; and (iii) does not represent, derive value from, or maintain backing by, a financial asset (except other crypto assets); and (B) does not include— (i) a payment stablecoin, except as otherwise provided by this chapter