or a restricted digital asset. . (b) Treatment of permitted payment stablecoins Title I of the Securities Exchange Act of 1934 ( 15 U.S.C. 78a et seq. ), as amended by section 404, is amended by inserting after section 6B the following: 6C. Treatment of transactions in permitted payment stablecoins (a) Authority to broker, trade, and custody permitted payment stablecoins Permitted payment stablecoins may be brokered, traded, or custodied by a broker, dealer, digital asset broker, or digital asset dealer or through an alternative trading system or digital asset trading system. (b) Commission jurisdiction The Commission shall only have jurisdiction over a transaction in a permitted payment stablecoin with respect to those circumstances in which a permitted payment stablecoin is brokered, traded, or custodied— (1) by a broker, dealer, digital asset broker, or digital asset dealer