Amendment · S.Amdt. 2248· Senate(119-SAMDT-2248)

S.Amdt. 2248

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's look straight at what is on the table here. This amendment, labeled SA 2248 and submitted by Mr. Tuberville, aims to add a Prohibition on Foreign Adversary Ownership to the payment stablecoins bill.

What It Changes or Adds

Put simply, this addition makes sure that foreign payment stablecoin issuers cannot be owned, either in whole or in part, by specific countries and regimes. The text explicitly bans ownership by the following:

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