[Congressional Record Volume 171, Number 77 (Thursday, May 8, 2025)]
[Senate]
[Page S2846]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2226. 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:

       At the appropriate place, insert the following:

     SEC. __. PRIVATE RIGHT OF ACTION AGAINST PERMITTED PAYMENT 
                   STABLECOIN ISSUERS AND DIGITAL ASSET SERVICE 
                   PROVIDERS.

       Any person who purchases, sells, trades, exchanges, 
     transfers, or lends a payment stablecoin in, or in a manner 
     affecting, interstate or foreign commerce may bring an action 
     in the United States district court for the judicial district 
     in which the person conducts such transaction, against a 
     permitted payment stablecoin issuer or a digital asset 
     service provider if such permitted payment stablecoin issuer 
     or digital asset service provider deployed any fraudulent, 
     manipulative, or deceptive device or contrivance of such 
     rules and regulations as the primary Federal payment 
     stablecoin issuers shall prescribe as necessary or 
     appropriate in the public interest or for the protection of 
     any person who transacts in a payment stablecoin.

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