CONGRESS FOR VOTERS

Tommy Tuberville (R-AL)

S.Amdt. 2248

S.Amdt. 2248 · Senate amendment

A Republican amendment with no cosponsors

Changes S. 1582 — GENIUS Act

Not adopted

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

Its path through Congress

  1. Introduced
  2. Pending Consideration
  3. Failed

What this amendment would do

This amendment would add a new section to the bill that prohibits certain ownership of foreign payment stablecoin issuers.

  • Under this amendment, a foreign company that issues payment stablecoins cannot be owned, either entirely or partially, by specific foreign entities or nations.

  • The prohibited owners include the People's Republic of China, which includes the Hong Kong and Macao Special Administrative Regions.

  • Ownership is also prohibited by the Republic of Cuba, the Islamic Republic of Iran, and the Democratic People's Republic of Korea.

  • Additionally, the amendment prohibits ownership by the Russian Federation and the Bolivarian Republic of Venezuela under the regime of Nicolas Maduro Moros.