S.Amdt. 2321

SA 2321. 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 4(a)(4)(A), strike clauses (i) through (iv) and
insert the following:
(i) capital requirements applicable to permitted payment
stablecoin issuers that ensure the safety and soundness of
the permitted payment stablecoin issuer and the stability of
the United States financial system;
(ii) appropriate liquidity requirements and interest rate
risk management standards applicable to permitted payment
stablecoin issuers that ensure permitted payment stablecoin
issuers can meet redemptions and other obligations in a
period of severe financial stress; and
(iii) heightened operational, compliance, cybersecurity,
and information technology risk management standards,
including Bank Secrecy Act and sanctions compliance,
commensurate with the increased risk profile of digital asset
activities.
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