Amendment · S.Amdt. 2298· Senate(119-SAMDT-2298)

S.Amdt. 2298

Age: 72 years

Alabama

Introduced: 6/5/2025
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

Mr. Tuberville submitted amendment SA 2298 to the bill S. 1582, which is about the regulation of payment stablecoins.

The purpose of this amendment is to add a new requirement to section 18(a) of the bill. It aims to ensure that certain foreign countries do not have a controlling interest of 20 percent or more in a foreign payment stablecoin issuer.

Countries Included

The amendment specifically lists the following countries and regions that cannot hold that 20 percent or greater controlling interest:

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.