Amendment · S.Amdt. 2236· Senate(119-SAMDT-2236)

S.Amdt. 2236

Age: 72 years

Alabama

Introduced: 5/21/2025
Sponsored by: Tommy Tuberville
Cosponsors: None

Changes bill: 119-S-1582 — GENIUS Act

Introduced
Pending Consideration
Failed

This amendment was never taken up, and the bill finished without it. It was never voted on.

What this amendment would do

As your legislative analyst, let us break down what Mr. Tuberville is trying to do with this amendment to bill S. 1582, which deals with payment stablecoins. Common sense tells us we need to keep a close eye on who is doing business with our financial system, and this amendment is all about national security and foreign ownership.

Purpose and Changes

The amendment aims to add a specific rule to section 18(a) of the bill.
It explicitly states that a foreign payment stablecoin issuer cannot be owned, in whole or in part, by certain foreign governments or entities.
The restricted list includes the People's Republic of China (including Hong Kong and Macao), the Republic of Cuba, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the Russian Federation, and the Bolivarian Republic of Venezuela under the regime of Nicolas Maduro Moros.