CONGRESS FOR VOTERS

John Reed (D-RI)

S.Amdt. 2258

S.Amdt. 2258 · Senate amendment

A Democratic 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

Mr. Reed submitted amendment SA 2258 to the bill S. 1582, which is about regulating payment stablecoins.

  • A management official of a permitted payment stablecoin issuer is not allowed to serve as a management official for any other permitted payment stablecoin issuer that is not an institution-affiliated party.

  • The Attorney General is given the power to enforce this rule using all the functions and powers they have under the Clayton Act, without worrying about jurisdictional limits under that Act.

  • The Attorney General or the Assistant Attorney General in charge of the Antitrust Division of the Department of Justice can use their Clayton Act powers to investigate a possible violation just as if it were a violation of that Act.