Not adopted
This amendment was never taken up, and the bill finished without it. It was never voted on.
Its path through Congress
- Introduced
- Pending Consideration
- Failed
What this amendment would do
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This amendment treats permitted payment stablecoin issuers just like insured depository institutions.
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It makes sure these issuers have to follow the same rules as traditional banks when it comes to filing a charter, submitting suspicious activity reports, reporting large transactions under the Bank Secrecy Act, meeting regulatory capital standards, and undergoing audits.
Purpose of the Amendment
- The purpose is to hold stablecoin issuers to the same accountability standards as regular banks for these specific requirements.
- 5/21/2025
- Senate amendment submitted
This bill has no cosponsors