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
This amendment would add requirements to section 4 of the bill regarding changes of control, mergers, or acquisitions of a permitted payment stablecoin issuer.
No action resulting in a change of control may be taken without prior written approval from the primary Federal payment stablecoin regulator.
A person seeking to acquire control must submit a written application containing detailed information about the applicant and its leaders.
The primary Federal payment stablecoin regulator must determine if the applicant will control another person and must approve or deny the application within 120 days of it being deemed complete.
In making these decisions, the regulator must consider the public interest and the needs and convenience of the public.
No action resulting in a merger or an acquisition of all or a substantial part of the assets of a permitted payment stablecoin issuer may be taken without prior written approval from the primary Federal payment stablecoin regulator.
- 6/2/2025
- Senate amendment submitted
This bill has no cosponsors