[Congressional Record Volume 171, Number 86 (Wednesday, May 21, 2025)]
[Senate]
[Page S3085]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2265. 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 end of section 4(a), add the following:
       (__) Executive compensation standards.--Each primary 
     Federal payment stablecoin regulator and State payment 
     stablecoin regulator shall prescribe, with respect to each 
     permitted payment stablecoin issuer within the jurisdiction 
     of the regulator--
       (A) standards prohibiting, as an unsafe and unsound 
     practice, any employment contract, compensation or benefit 
     agreement, fee arrangement, perquisite, stock option plan, 
     post-employment benefit, or other compensatory arrangement 
     that--
       (i) would provide any executive officer, employee, 
     director, or principal shareholder of the issuer with 
     excessive compensation, fees, or benefits; or
       (ii) could lead to material financial loss to the issuer;
       (B) standards specifying when compensation, fees, or 
     benefits described in subparagraph (A) are excessive, which 
     shall require the regulator to determine whether the amounts 
     are unreasonable or disproportionate to the services actually 
     performed by the applicable individual, taking into 
     consideration--
       (i) the combined value of all cash and non-cash benefits 
     provided to the individual;
       (ii) the compensation history of the individual and other 
     individuals with comparable expertise at the issuer;
       (iii) the financial condition of the issuer;
       (iv) comparable compensation practices at comparable 
     issuers, which shall be based on such factors as asset size, 
     geographic location, and the complexity of the asset 
     portfolio;
       (v) with respect to post-employment benefits, the projected 
     total cost and benefit to the issuer;
       (vi) any connection between the individual and any 
     fraudulent act or omission, breach of trust or fiduciary 
     duty, or insider abuse with respect to the issuer; and
       (vii) other factors that the regulator determines to be 
     relevant; and
       (C) such other standards relating to compensation, fees, 
     and benefits as the regulator determines to be appropriate.

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