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 a prohibition on the issuance of payment stablecoins to section 4(a) of the bill.
- It would prevent certain entities from issuing a payment stablecoin.
- The prohibition applies to a bank holding company, which is a company that owns or controls one or more banks, if it has total consolidated assets of at least $700,000,000,000 or is identified as a global systemically important bank holding company.
- The prohibition also applies to an insured depository institution, which is a financial institution protected by federal deposit insurance, if it has at least $700,000,000,000 in total consolidated assets.
- This restriction extends to any affiliate or subsidiary of these entities.
- An affiliate is defined as an entity where the person owns at least 5 percent of outstanding shares or has one or more representatives on the Board of Directors.
- 6/9/2025
- Senate amendment submitted
This bill has no cosponsors