§ 2354. Department of Community and Cultural Affairs- Rules and Regulations
§ 2354 TITLE 10: LOCAL LAWS DIVISION 2: SECOND SENATORIAL DISTRICT (TINIAN, ETC.) § 2354. Composition of the Tinian Stable Token Reserve Account. (a) The following shall be deposited in the Tinian Stable Token Reserve Account (TSTRA), for use in maintaining adequate reserves to satisfy any obligations to holders of issued and circulating Tinian Stable To- ken: (1) All monies collected at the time of issuance of Tinian Stable To- ken; (2) Fees and taxes collected through the use of the Tinian Stable To- ken system. (b) Funds in the TSTRA may be compromised of: (1) United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks, United States na- tional chartered banks, and Commonwealth chartered banks); (2) Treasury bills with a maturity of 90 days or less; (3) Repurchase agreements with a maturity of 7 days or less that are backed by Treasury bills with a maturity of 90 days or less; or (4) Stablecoin, reserve-backed by one-to-one reserves of assets spec- ified in subsection (b)(1) through (b)(3) of this Section; (c) Funds due to the TSTRA, when such funds are temporarily held in the custody of payment processors or other intermediary financial in- stitutions, shall be considered as value belonging to the TSTRA. Source: TLL 24-03, § 6 (May 19, 2025). Commission Comment: In codifying TLL 24-03, the Commission renum- bered “§ 104” to “§ 2354” pursuant to 1 CMC § 3806(a).
Source: CNMI Law Revision Commission