CONGRESS FOR VOTERS

RepublicanAmendment · S.Amdt. 2285· Senate(119-SAMDT-2285)

S.Amdt. 2285

Rep. Tuberville
Age: 72 years
Alabama
Introduced
6/2/2025
Sponsored by
Tommy Tuberville
Cosponsors
None
Changes bill
119-S-1582 — GENIUS Act
  1. Introduced
  2. Pending Consideration
  3. Failed

What this amendment would do

Mr. Tuberville submitted this amendment to the bill S. 1582, which is about regulating payment stablecoins. Common sense tells us we need to keep a close eye on who owns our financial systems, and this amendment is all about holding foreign entities accountable.

What It Aims to Change or Add

The amendment adds a new rule to section 18(a) of the bill. Specifically, it adds a requirement that a foreign payment stablecoin issuer cannot be owned, either in whole or in part, by certain foreign governments and regions.

Who Is Banned From Ownership

Under this amendment, ownership is strictly forbidden for the following:

  • The People's Republic of China, which includes 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.