S.Amdt. 2334

SA 2334. 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:

At the appropriate place, insert the following:

SEC. _____. REQUIREMENT TO OBTAIN INSURANCE FOR HACKS OR
OTHER OPERATIONAL RISK FAILURES.

Permitted payment stablecoin issuers and payment stablecoin
custodians shall obtain private insurance to cover the costs
of hacks, other operational failures, and consumer
reimbursement in a manner and amount prescribed by the
appropriate State payment stablecoin regulator or primary
Federal payment stablecoin regulator.
______