CONGRESS FOR VOTERS

Tommy Tuberville (R-AL)

S.Amdt. 2297

S.Amdt. 2297 · 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

MR. TUBERVILLE submitted amendment numbered SA 2297 to the bill S. 1582, which relates to the regulation of payment stablecoins.

Purpose and Changes

This amendment aims to add a prohibition regarding Foreign Adversary Ownership. Specifically, it stops certain countries from having a controlling interest of 20 percent or more in a foreign payment stablecoin issuer.

Prohibited Countries

The text explicitly lists the following countries and regions that are subject to this ownership ban:

  • The People's Republic of China, including the Hong Kong Special Administrative Region and the Macao Special Administrative Region

  • The Republic of Cuba

  • The Islamic Republic of Iran

  • The Democratic People's Republic of Korea

  • The Russian Federation

  • The Bolivarian Republic of Venezuela under the regime of Nicolas Maduro Moros