S.Amdt. 2322

This amendment, submitted by Ms. Warren, aims to add a new provision regarding service providers to section 4(a) of the bill.

Purpose and Changes

• The amendment gives the appropriate permitted payment stablecoin regulator authority over a service provider of the permitted payment stablecoin issuer.

• This authority applies to the same extent as if the service provider were in a service relationship with a depository institution, and the regulator were an appropriate Federal banking agency under section 7(c) of the Bank Service Company Act.