Amendment · S.Amdt. 2305· Senate(119-SAMDT-2305)

S.Amdt. 2305

Age: 74 years

Colorado

This amendment was never taken up, and the bill finished without it. It was never voted on.

What this amendment would do

Mr. Hickenlooper submitted SA 2305 to the bill S. 1582, which provides for the regulation of payment stablecoins.

It strikes paragraph (11) in section 4(a) of the bill and replaces it with a new rule regarding a Prohibition on interest.
It explicitly bans any permitted payment stablecoin issuer, foreign payment stablecoin issuer, or their affiliate from paying the holder of a payment stablecoin any form of interest or yield.
This ban applies directly or indirectly, and covers cash, tokens, rewards, or other consideration connected to holding, using, or retaining the stablecoin.
It directs primary Federal payment stablecoin regulators to issue rules to carry out this prohibition, including rules that identify activities or transactions outside the scope of this ban.