; (B) a consultant, joint venture partner, and any other person that participates in the conduct of the affairs of the payment stablecoin issuer; or (C) any independent contractor providing services for the payment stablecoin issuer, including any attorney, appraiser, or accountant. (11) Insured depository institution The term insured depository institution means— (A) an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act ( 12 U.S.C. 1813 ); and (B) an insured credit union, as defined in section 101 of the Federal Credit Union Act ( 12 U.S.C. 1752 ). (12) National payment stablecoin issuer The term national payment stablecoin issuer means a depository institution chartered by the Comptroller or a State bank supervisor which is approved by the Board to conduct payment stablecoin activities under section 7. (13) Payment stablecoin The term payment stablecoin means crypto asset— (A) that is, or is designed to be, used as a means of payment or settlement; (B) the issuer of which— (i) is obligated to convert, redeem, or repurchase for a fixed amount of United States dollars; or (ii) represents, or creates the reasonable expectation, that the crypto asset will maintain a stable value relative to the value of a fixed amount of United States dollars; and (C) that is not— (i) United States coins, a Federal Reserve note or other lawful money (as that term is used in the Federal Reserve Act ( 12 U.S.C. 411 )), money issued by a central bank, or money issued by an intergovernmental organization pursuant to an agreement by one or more governments; or (ii) a security issued by an investment company registered under section 8(a) of the Investment Company Act of 1940 ( 15 U.S.C. 80a–8(a) ). (14) Payment stablecoin issuer The term payment stablecoin issuer means— (A) a non-depository trust company chartered by a State bank supervisor that is registered, or required to be registered, with the Board to issue payment stablecoins