S.Amdt. 2260

SA 2260. Mr. SCHIFF 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 in section 4, insert the
following:
(__) Disclosure Relating to Payment Stablecoins.--Section
13104 of title 5, United States Code, is amended--
(1) in subsection (a)--
(A) in paragraph (5)--
(i) in subparagraph (B), by inserting ``payment stablecoins
(as defined in section 2 of the GENIUS ACT),'' after
``commodities futures,''; and
(ii) in the flush matter following subparagraph (B), by
adding at the end the following: ``Reporting is not required
under subparagraph (B) of any exchange of payment stablecoins
(as defined in section 2 of the GENIUS Act) for goods and
services.''; and
(B) by adding at the end the following:
``(9) Payment stablecoins.--The identity and category of
value of any payment stablecoin (as defined in section 2 of
the GENIUS Act) that has a fair market value that exceeds
$1,000 as of the close of the preceding calendar year held by
the reporting individual during the preceding calendar
year.'';
(2) in subsection (b)(1)(B), by striking ``(3) and (4)''
and inserting ``(3), (4), and (9)''; and
(3) in subsection (d)(1)--
(A) in the paragraph heading, by striking ``(3), (4), (5),
and (8)'' and inserting ``(3), (4), (5), (8), and (9)''; and
(B) in the matter preceding subparagraph (A), by striking
``(3), (4), (5), and (8)'' and inserting ``(3), (4), (5),
(8), and (9)''.
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