S.Amdt. 2321

As folks keeping an eye out for the everyday people, we need to make sure our financial system stays safe and that the officials we vote into office hold companies accountable. Ms. Warren submitted SA 2321 to change the rules for companies that issue payment stablecoins under bill S. 1582.

The purpose of this amendment is to update the requirements for stablecoin issuers by replacing certain clauses in section 4(a)(4)(A). Specifically, it aims to add or change the following standards:

• Capital requirements that make sure the issuer is safe and sound, and that the United States financial system stays stable.

• Appropriate liquidity requirements and interest rate risk management standards to guarantee issuers can meet redemptions and other obligations during severe financial stress.

• Heightened operational, compliance, cybersecurity, and information technology risk management standards, which include Bank Secrecy Act and sanctions compliance that match the increased risk profile of digital asset activities.