Amendment · S.Amdt. 2262· Senate(119-SAMDT-2262)

S.Amdt. 2262

Age: 77 years

Rhode Island

Introduced: 5/21/2025
Sponsored by: John Reed
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

Mr. Reed submitted amendment SA 2262 to the bill S. 1582, which is designed to provide for the regulation of payment stablecoins and for other purposes.

The purpose of this amendment is to change specific wording in section 6(b) of the bill. Here is what it aims to change or add:

Key Changes

It replaces the word attempted with potential everywhere that term appears in section 6(b).
In section 6(b)(1)(A), it adds the phrase or is about to willfully or recklessly violate alongside the existing terms for violating the rule.
In section 6(b)(2), it changes the word attempting to about.
In section 6(b)(2), it expands the phrasing from application or other request to application, notice, or other request by the permitted payment stablecoin issuer or institution-affiliated party or any written agreement entered into with the regulator.