S.Amdt. 2291

SA 2291. 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:

Strike section 4(a)(4)(A)(i)(II) and insert the following:

(II) minimum capital requirements and operating expenses
that are no less stringent than such requirements applicable
to institutions chartered under the Special Purpose
Depository Institutions Act in Wyoming (Wyo. Stat. Ann. tit.
13, ch. 12) or to companies that are approved to issue
payment stablecoins under the New York Financial Services Law
and the virtual currency regulation issued thereunder (23
N.Y. Comp. Codes R. & Regs. tit. 23, Part 200).

______