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 for the review of mergers, consolidations, and changes in control for issuers of payment stablecoins.
It prohibits payment stablecoin issuers from merging, consolidating, assuming certain liabilities, or transferring reserve assets without prior written approval from a responsible agency.
The responsible agency must request a report from the Attorney General regarding competitive factors, though it may skip this step to prevent an issuer's failure or if the action involves only an issuer and its affiliate.
A responsible agency cannot approve an action that would result in a monopoly or substantially lessen competition unless the benefits to the community outweigh the anticompetitive effects.
The amendment also prevents any person from acquiring control of a payment stablecoin issuer through the transfer of voting stock without providing 60 days of written notice to a regulator.
A regulator may disapprove an acquisition if it threatens financial stability, harms customer interests, or if the acquiring person lacks sufficient competence, experience, or integrity.
- 6/9/2025
- Senate amendment submitted
This bill has no cosponsors