; 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; and (ii) other interests in financial assets (except other crypto assets) represented on a distributed ledger or any similar analogue. (3) Crypto asset intermediary The term crypto asset intermediary — (A) means— (i) a person who holds a license, registration, or other similar authorization, as specified by this chapter, the Commodity Exchange Act ( 7 U.S.C. 1 et seq. ), the Securities Act of 1933 ( 15 U.S.C. 77a et seq. ), the Corporation of Foreign Bondholders Act, 1933 ( 15 U.S.C. 77bb et seq. ), the Trust Indenture Act of 1939 ( 15 U.S.C. 77aaa et seq. ), the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ), the Securities Investor Protection Act of 1970 ( 15 U.S.C. 78aaa et seq. ), the Investment Company Act of 1940 ( 15 U.S.C. 80a–1 et seq. ), the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–1 ), or the Omnibus Small Business Capital Formation Act of 1980 ( 15 U.S.C. 80c ), that conducts market activities relating to crypto assets; or (ii) a person who is required by law to hold a license, registration, or other similar authorization described in clause (i); and (B) does not include a depository institution. (4) Depository institution The term depository institution has the meaning given the term in section 19(b)(1) of the Federal Reserve Act ( 12 U.S.C. 461(b)(1) ). (5) Distributed ledger technology The term distributed ledger technology means technology that enables the operation and use of a ledger that— (A) is shared across a set of distributed nodes that participate in a network and store a complete or partial replica of the ledger; (B) is synchronized between the nodes; (C) has data appended to the ledger by following the specified consensus mechanism of the ledger; (D) may be accessible to anyone or restricted to a subset of participants