S.Amdt. 2243

SA 2243. Mr. DURBIN 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. __. TREATMENT OF PERMITTED PAYMENT STABLECOIN ISSUERS AS
DEPOSITORY INSTITUTIONS.

A permitted payment stablecoin issuer shall be deemed to
be an insured depository institution for the purpose of any
requirement applicable to an insured depository institution
to file a charter, submit suspicious activity reports, report
large transactions under the Bank Secrecy Act, meet
regulatory capital standards, and undergo audits.
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