; and (B) a safe harbor for payment a payment stablecoin issuer that is subject to comprehensive regulation and supervision by a foreign financial regulatory authority in a jurisdiction with an equivalent regulatory framework to the United States, as determined by the Board, in consultation with the Comptroller and State bank supervisors. (e) Extraterritorial effect This section is intended to have extraterritorial effect. 4. Prudential requirements applicable to all payment stablecoin issuers (a) Customer protection and segregation A person who provides custodial services, including subcustodian or other safekeeping services, for payment stablecoins shall— (1) treat and deal with the payment stablecoins and cash of a customer as belonging to the customer