Adam Schiff (D-CA)

S.Amdt. 2261

S.Amdt. 2261 · 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

This amendment, submitted by Mr. Schiff, proposes changes to a bill that deals with the regulation of payment stablecoins. To keep our elected officials accountable and ensure the public knows what they are involved in, this proposal makes sure that payment stablecoins are included in financial disclosure rules.

What the Amendment Changes

  • Adds payment stablecoins to the existing disclosure rules for property and commodities futures.

  • Requires officials to report certain details about payment stablecoins.

  • States that reporting is not required if someone exchanges payment stablecoins for goods and services.