S.Amdt. 2226

SA 2226. Mr. REED submitted an amendment intended to be proposed by
him to the bill S. 1582, to provide for the regulation of payment
stablecoins, and for other purposes; which was ordered to lie on the
table; as follows:

At the appropriate place, insert the following:

SEC. __. PRIVATE RIGHT OF ACTION AGAINST PERMITTED PAYMENT
STABLECOIN ISSUERS AND DIGITAL ASSET SERVICE
PROVIDERS.

Any person who purchases, sells, trades, exchanges,
transfers, or lends a payment stablecoin in, or in a manner
affecting, interstate or foreign commerce may bring an action
in the United States district court for the judicial district
in which the person conducts such transaction, against a
permitted payment stablecoin issuer or a digital asset
service provider if such permitted payment stablecoin issuer
or digital asset service provider deployed any fraudulent,
manipulative, or deceptive device or contrivance of such
rules and regulations as the primary Federal payment
stablecoin issuers shall prescribe as necessary or
appropriate in the public interest or for the protection of
any person who transacts in a payment stablecoin.

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