Amendment · S.Amdt. 2319· Senate(119-SAMDT-2319)

S.Amdt. 2319

Age: 77 years

Massachusetts

Introduced: 6/9/2025
Sponsored by: Elizabeth Warren
Cosponsors: None

Changes bill: 119-S-1582 — GENIUS Act

Introduced
Pending Consideration
Failed

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

What this amendment would do

What this amendment is about:

This is an amendment submitted by Ms. Warren to a bill about payment stablecoins. As folks who rely on our government to keep things straight, we need to know what our elected officials are trying to change in the laws we vote on.

What it changes in the bill:

It changes wording in section 10(a) regarding what is used to issue to simply of.
It strikes paragraph (1) in section 10(a) and replaces it with a new requirement stating that a person 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.
It strikes paragraph (2) in section 10(c) and redesignates paragraph (3) as paragraph (2).
It adds a brand new rule at the end of section 10 requiring regulators to prescribe appropriate capital, liquidity, and risk management standards for the people they supervise, which include heightened operational risk, information technology, and cybersecurity standards commensurate with the heightened risks of providing custodial or safekeeping services described in that subsection.