S.Amdt. 2346

SA 2346. Mr. HAWLEY (for himself and Mr. Blumenthal) 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 2, redesignate paragraphs (16) through (32) as
paragraphs (17) through (33), respectively.
In section 2, insert after paragraph (15) the following:
(16) Interactive computer service.--The term ``interactive
computer service'' means any information service, system, or
access software provider that--
(A) provides or enables computer access by multiple users
to a computer server, including specifically a service or
system that provides access to the Internet and such systems
operated or services offered by libraries or educational
institutions;
(B) averages more than 25,000,000 unique users on a monthly
basis or has 25,000,000 user accounts; and
(C) includes any parent, subsidiary, and affiliate of the
information service, system, or access software provider.
In section 4, redesignate subsections (g), (h), and (i) as
subsections (h), (i), and (j), respectively.
In section 4, after subsection (f), insert the following:

[[Page S3292]]

(g) Liability for Interactive Computer Services.--An
interactive computer service shall be excepted from the
liability protection under section 230(c)(1) of the
Communications Act of 1934 (47 U.S.C. 230(c)(1)) for the
promotion, marketing, or the facilitation of a transaction
involving a payment stablecoin if the interactive computer
service--
(1) fails to take reasonable steps to prevent material
misrepresentation, market manipulation, or unauthorized
promotion of such asset;
(2) materially edits or amplifies content relating to
digital asset investment, including through algorithmic
curation or boosting; or
(3) fails to take reasonable steps to prevent illegal
activity transacted using such asset.
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