S.Amdt. 2252

SA 2252. 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:

Add at the end the following:

SEC. ___. STANDARD OF REVIEW.

If this Act is silent or ambiguous as to the proper
construction of a particular term or provision or set of
terms or provisions, and a primary Federal payment stablecoin
regulator has followed the applicable procedures in sections
551 through 559 of title 5, United States Code, has otherwise
lawfully adjudicated a matter, or has followed the
corresponding procedural provisions of this Act, as
applicable, a reviewing court shall defer to the reasonable
or permissible interpretation of that statute by an agency,
regardless of the significance of the related agency action
or a possible future agency action.
______