[Congressional Record Volume 171, Number 87 (Thursday, May 22, 2025)]
[Senate]
[Page S3126]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2268. Ms. SLOTKIN (for herself and Ms. Lummis) submitted an 
amendment intended to be proposed by her 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:

       On page 98, between lines 16 and 17, insert the following:
       (4) Mitigation of certain risks.--A State payment 
     stablecoin regulator or appropriate Federal banking agency 
     may, by rule or order, limit, condition, or prohibit the 
     application of paragraph (2), in whole or in part, where 
     necessary to mitigate systemic risk, protect depositors and 
     consumers, address liquidity or operational risks, or 
     preserve the safety and soundness of insured depository 
     institutions. In prescribing any such rule or order, the 
     regulators shall tailor requirements based on the nature of 
     the custodial arrangement, the type and risk profile of the 
     permitted payment stablecoin issuer, the size and complexity 
     of the insured depository institution, and the scope of 
     commingled activity.
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