S.Amdt. 2268

SA 2268. Ms. SLOTKIN (for herself and Ms. Lummis) submitted an
amendment intended to be proposed by her 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:

On page 98, between lines 16 and 17, insert the following:
(4) Mitigation of certain risks.--A State payment
stablecoin regulator or appropriate Federal banking agency
may, by rule or order, limit, condition, or prohibit the
application of paragraph (2), in whole or in part, where
necessary to mitigate systemic risk, protect depositors and
consumers, address liquidity or operational risks, or
preserve the safety and soundness of insured depository
institutions. In prescribing any such rule or order, the
regulators shall tailor requirements based on the nature of
the custodial arrangement, the type and risk profile of the
permitted payment stablecoin issuer, the size and complexity
of the insured depository institution, and the scope of
commingled activity.
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