S.Amdt. 2289

Mr. Reed submitted amendment numbered SA 2289 to the bill S. 1582. The purpose of this amendment is to address legal tender and digital assets by updating federal law and setting rules for states. As folks we elected to represent us, we need to keep an eye on how these changes affect our money and transactions.

Changes and Additions to the Bill

The amendment aims to change and add several specific items to the law:

• United States coins are explicitly made the exclusive legal tender for all debts, public charges, taxes, and dues.
• It adds a strict rule stating that no foreign gold, silver coins, or digital assets shall be legal tender or treated as legal tender.
• It adds a clear definition for a digital asset, describing it as any digital representation of value that can be exclusively possessed and transferred person to person without a necessary intermediary, and recorded on a cryptographically secured public distributed ledger.
• It stops any State, political subdivision of a State, or political authority of two or more States from enacting or enforcing any law or regulation that treats digital assets as legal tender for any debt, public charge, tax, or due.