[Congressional Record Volume 171, Number 86 (Wednesday, May 21, 2025)]
[Senate]
[Page S3083]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2255. Mr. REED submitted an amendment intended to be proposed by 
him 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:

       At the appropriate place, insert the following:

     SEC. __. USE OF SANCTIONS AUTHORITIES UNDER INTERNATIONAL 
                   EMERGENCY ECONOMIC POWERS ACT WITH RESPECT TO 
                   BLOCKCHAIN-ENABLED SMART CONTRACTS.

       Section 203 of the International Emergency Economic Powers 
     Act (50 U.S.C. 1702) is amended--
       (1) in subsection (a), by adding at the end the following:
       ``(4) The President may exercise the authorities granted by 
     this subsection with respect to blockchain-enabled smart 
     contracts, or other similar technology, without regard to 
     whether such contracts operate autonomously, can be modified, 
     or are owned.''; and
       (2) by adding at the end the following:
       ``(d) In this section:
       ``(1) The term `interest' includes any interest of any 
     nature whatsoever, direct or indirect, present, future, or 
     contingent, and legal, equitable, or beneficial, or 
     otherwise, without regard to whether such interest is legally 
     cognizable.
       ``(2) The terms `person' and `national' include--
       ``(A) any individual;
       ``(B) any entity, association, group, or other 
     organization; and
       ``(C) any body of persons joined by common purpose or 
     interest.
       ``(3) The term `property' includes--
       ``(A) property of any nature whatsoever, real, personal, or 
     mixed, tangible or intangible, even if such property is 
     abandoned or ownerless;
       ``(B) services of any nature whatsoever; and
       ``(C) contracts of any nature whatsoever.''.
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