CONGRESS FOR VOTERS

DemocratAmendment · S.Amdt. 2339· Senate(119-SAMDT-2339)

S.Amdt. 2339

Rep. Warren
Age: 77 years
Massachusetts
Introduced
6/9/2025
Sponsored by
Elizabeth Warren
Cosponsors
Democrat - 2Republican - 0
Changes bill
119-S-1582 — GENIUS Act
  1. Introduced
  2. Pending Consideration
  3. Failed

What this amendment would do

This amendment, numbered SA 2339 and submitted by Ms. Warren along with Mr. Reed and Ms. Smith, is meant to be proposed for the bill S. 1582, which provides for the regulation of payment stablecoins.

Purpose and Changes

The amendment aims to change the bill by striking section 4(a)(12) and replacing it with new rules regarding the relationship between payment stablecoin issuers and nonfinancial companies.

What the Amendment Adds

  • A permitted payment stablecoin issuer cannot be owned, controlled, or affiliated with any person or company that does things that are not financial in nature.

  • Activities authorized under section 4(a)(7)(A) are considered financial in nature.

  • The Federal Reserve is responsible for enforcing these rules by ordering the company to sell off parts of its business within 180 days of a violation and by handing out civil money penalties.

  • If an issuer breaks this rule more than once or fails to follow a divestiture order, its stablecoin license or charter will be terminated within 30 days, and it will not be allowed to be a permitted payment stablecoin issuer for at least 10 years.