S.Amdt. 2265

Mr. Reed submitted amendment numbered SA 2265 to the bill S. 1582, which is designed to provide for the regulation of payment stablecoins.

The purpose of this amendment is to add executive compensation standards to the end of section 4(a) of the bill. It aims to require both Federal and State payment stablecoin regulators to set rules for permitted payment stablecoin issuers.

Specifically, the amendment requires regulators to prohibit compensation arrangements that are excessive or could lead to material financial loss for the issuer. It also directs regulators to establish standards for determining when compensation, fees, or benefits are unreasonable or disproportionate by considering specific factors like total benefits, past compensation, the issuer's financial condition, and comparable practices at other issuers.