; or (2) through an alternative trading system or digital asset trading system. (c) Limitation Subsection (b) shall only apply to a transaction described in subsection (b) for the purposes of regulating the offer, execution, solicitation, or acceptance of a permitted payment stablecoin in those circumstances in which the permitted payment stablecoin is brokered, traded, or custodied— (1) by a broker, dealer, digital asset broker, or digital asset dealer