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
Mr. Peters submitted amendment SA 2300 to the bill S. 1582, which is about the regulation of payment stablecoins.
Purpose and Changes
The amendment requires the Board of Governors of the Federal Reserve System, working with other financial regulators, to set up a messaging network for stablecoin transactions that is similar to the Society for Worldwide Interbank Financial Telecommunications.
After this network is established, the Federal Reserve must send a proposal that includes the network to Congress.
The Federal Reserve and other relevant regulators can only put the network into action after Congress passes a law to approve the proposal.
The Act and its amendments will officially take effect on the date that the approved network is fully put in place and working.
- 6/5/2025
- Senate amendment submitted
This bill has no cosponsors