S.Amdt. 2320

As folks keeping an eye out for the everyday people, we need to know what our elected officials are trying to do with our financial systems. This amendment, submitted by Ms. Warren, aims to add a rule to section 4(a) of the bill that prohibits certain large financial entities from issuing a payment stablecoin.

Here is what the amendment specifically targets to keep out of the stablecoin business:

• Bank holding companies with total consolidated assets of not less than $700,000,000,000.
• Bank holding companies identified as global systemically important bank holding companies.
• Insured depository institutions with not less than $700,000,000,000 in total consolidated assets.
• Any affiliate or subsidiary of those large bank holding companies or insured depository institutions.