S.Amdt. 2319

SA 2319. Ms. WARREN submitted an amendment intended to be proposed to
amendment SA 2307 proposed by Mr. Thune (for Mr. Hagerty (for himself
and Mrs. Gillibrand)) 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:

In section 10(a), in the matter preceding paragraph (1),
strike ``used to issue'' and insert ``of''.
In section 10(a), strike paragraph (1) and insert the
following:
(1) is subject to supervision or regulation by a primary
Federal payment stablecoin regulator or a primary financial
regulatory agency described under subparagraph (B) or (C) of
section 2(12) of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (12 U.S.C. 5301(12)); and
In section 10(c), strike paragraph (2).
In section 10(c), redesignate paragraph (3) as paragraph
(2).
At the end of section 10, add the following:
(f) Requirement to Prescribe Standards.--A primary Federal
payment stablecoin regulator or primary financial regulatory
agency described in subsection (a)(1) that supervises or
regulates a person under that subsection shall prescribe
appropriate capital, liquidity, and risk management standards
for those persons, including include heightened operational
risk, information technology, and cybersecurity standards
commensurate with the heightened risks of providing custodial
or safekeeping services described in that subsection.
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