[Congressional Record Volume 171, Number 86 (Wednesday, May 21, 2025)]
[Senate]
[Page S3082]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2248. Mr. TUBERVILLE submitted an amendment intended to be 
proposed to amendment SA 2228 proposed by Mr. Thune (for Mr. Ricketts 
(for himself and Ms. Lummis)) to the bill S. 1582, to provide for the 
regulation of payment stablecoins, and for other purposes; which was 
ordered to lie on the table; as follows:

        Add at the end the following:
       (d) Prohibition on Foreign Adversary Ownership.--A foreign 
     payment stablecoin issuer may not be owned, in whole or in 
     part, by--
       (1) the People's Republic of China, including the Hong Kong 
     Special Administrative Region and the Macao Special 
     Administrative Region;
       (2) the Republic of Cuba;
       (3) the Islamic Republic of Iran;
       (4) the Democratic People's Republic of Korea;
       (5) the Russian Federation; or
       (6) the Bolivarian Republic of Venezuela under the regime 
     of Nicolas Maduro Moros.
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