[Congressional Record Volume 171, Number 98 (Monday, June 9, 2025)]
[Senate]
[Page S3287]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2319. 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:

        In section 10(a), in the matter preceding paragraph (1), 
     strike ``used to issue'' and insert ``of''.
       In section 10(a), strike paragraph (1) and insert the 
     following:
       (1) is subject to supervision or regulation by a primary 
     Federal payment stablecoin regulator or a primary financial 
     regulatory agency described under subparagraph (B) or (C) of 
     section 2(12) of the Dodd-Frank Wall Street Reform and 
     Consumer Protection Act (12 U.S.C. 5301(12)); and
       In section 10(c), strike paragraph (2).
       In section 10(c), redesignate paragraph (3) as paragraph 
     (2).
       At the end of section 10, add the following:
       (f) Requirement to Prescribe Standards.--A primary Federal 
     payment stablecoin regulator or primary financial regulatory 
     agency described in subsection (a)(1) that supervises or 
     regulates a person under that subsection shall prescribe 
     appropriate capital, liquidity, and risk management standards 
     for those persons, including include heightened operational 
     risk, information technology, and cybersecurity standards 
     commensurate with the heightened risks of providing custodial 
     or safekeeping services described in that subsection.
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