Alabama § 8-7B-3
Full text of Alabama Code of Alabama § 8-7B-3, with citation guidance and answers to common questions.
§ 8-7B-3.
(a) No person may issue a payment stablecoin in the state, unless that person is a permitted payment stablecoin issuer.
(b) Beginning on July 18, 2028, no digital asset service provider may offer or sell a payment stablecoin to a person in the state, unless the payment stablecoin is issued by a permitted payment stablecoin issuer.
(c) This section shall not apply to the following transactions:
(1) Any direct transfer of payment stablecoin between two individuals, each acting on his or her own behalf and for his or her own lawful purposes, without the involvement of an intermediary.
(2) Any transaction involving the receipt of payment stablecoin by an individual between an account owned by the individual in the United States and an account owned by the individual abroad which are offered by the same parent company.
(3) Any transaction by means of a software or hardware wallet which facilitates an individual’s own custody of payment stablecoin.
(d) Notwithstanding any provision of this chapter to the contrary, any determination regarding banking activities shall be the sole authority of the Alabama State Banking Department pursuant to Title 5.
Frequently Asked Questions About Alabama § 8-7B-3
What does Code of Alabama § 8-7B-3 cover?
Section 8-7B-3 is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 8-7B-3?
A common citation format is "Code of Alabama § 8-7B-3" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 8-7B-3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.