S. 1582 - Guiding and Establishing National Innovation for U.S. Stablecoins Act
S. 1582 - Guiding and Establishing National Innovation for U.S. Stablecoins Act
Hearing Information
Meeting Information
Monday, July 14, 2025 - 4:00pm H-313, The Capitol View Announcement »
Video
Bill Text
(as engrossed in the Senate)
Hearing Documents
Rule PDF
H. Rept. 119-199PDF
Rule Information
COMMITTEE ACTION:
REPORTED BY A RECORD VOTE of 8-4 on Monday, July 14, 2025.
FLOOR ACTION ON H. RES. 580:
Not agreed to by a record vote of 196-223, after agreeing to the previous question by a record vote of 211-210, on Tuesday, July 15, 2025.
FLOOR ACTION ON H. RES. 580:
Agreed to by a record vote of 217-212, after agreeing to the motion to reconsider by a record vote of 215-211, on Wednesday, July 16, 2025.
MANAGERS: Jack/Scanlon
1. Structured rule for H.R. 4016.
2. Waives all points of order against consideration of the bill.
3. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Appropriations or their respective designees. 4. Provides that the bill shall be considered as read.
5. Waives all points of order against provisions in the bill for failure to comply with clause 2 or clause 5(a) of rule XXI.
6. Makes in order only those amendments printed in part A of the Rules Committee report, amendments en bloc described in section 3 and pro forma amendments described in section 4. Each amendment shall be considered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment except as provided by section 4 of the rule, and shall not be subject to a demand for division of the question.
7. Waives all points of order against the amendments printed in part A of the Rules Committee report or amendments en bloc described in section 3 of the rule.
8. Provides that the chair of the Committee on Appropriations or his designee may offer amendments en bloc consisting of amendments printed in part A of the Rules Committee report not earlier disposed of. Amendments en bloc shall be considered as read, shall be debatable for 20 minutes equally divided and controlled by the chair and ranking minority member of the Committee on Appropriations or their respective designees, shall not be subject to amendment except as provided by section 4 of the rule, and shall not be subject to a demand for division of the question.
9. Provides that the chair and ranking minority member of the Committee on Appropriations or their respective designees may offer up to 10 pro forma amendments each at any point for the purpose of debate.
10. Provides one motion to recommit.
11. Structured rule for H.R. 3633.
12. Waives all points of order against consideration of the bill.
13. Provides that, in lieu of the amendments in the nature of a substitute recommended by the Committees on Agriculture and Financial Services now printed in the bill, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 119-6, modified by the amendment printed in part B of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.
14. Waives all points of order against provisions in the bill, as amended.
15. Provides one hour of general debate equally divided among and controlled by the chair and ranking minority member of the Committee on Agriculture or their respective designees and the chair and ranking minority member of the Committee on Financial Services or their respective designees.
16. Makes in order only the amendment printed in part C of the Rules Committee report. Each amendment shall be considered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
17. Waives all points of order against the amendment printed in part C of the report.
18. Provides one motion to recommit.
19. Closed rule for H.R. 1919.
20. Waives all points of order against consideration of the bill.
21. Provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill shall be considered as adopted and the bill, as amended, shall be considered as read.
22. Waives all points of order against provisions in the bill, as amended.
23. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services or their respective designees.
24. Provides one motion to recommit.
25. Closed rule for S. 1582.
26. Waives all points of order against consideration of the bill.
27. Provides that the bill shall be considered as read.
28. Waives all points of order against provisions in the bill.
29. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services or their respective designees.
30. Provides one motion to commit.
31. Provides that the requirement of clause 6(a) of rule XIII for a two-thirds vote to consider a report from the Committee on Rules on the same day it is presented to the House is waived with respect to any resolution reported through the legislative day of July 18, 2025, relating to the bill (H.R. 4) to rescind certain budget authority proposed to be rescinded in special messages transmitted to the Congress by the President on June 3, 2025, in accordance with section 1012(a) of the Congressional Budget and Impoundment Control Act of 1974.
Amendments (click each header to sort table ▲▼ by that column)
| # | Version # | Sponsor(s) | Party | Summary | Status |
|---|---|---|---|---|---|
| 1 | Version 2 | Davidson (OH) | Republican | Revised Protects an individual's right to maintain a hardware wallet or software wallet for the purpose of facilitating the individual’s own lawful custody of digital assets; and to engage in direct, peer-to-peer transactions in digital assets with another individual or entity for the individual’s own lawful purposes using a hardware wallet or software wallet. Identical to Section 105(c) in Rules Committee Print 119-6 for H.R. 3633 - Digital Asset Market Clarity Act of 2025. | Revised |
| 2 | Version 1 | Waters (CA) | Democrat | Includes the “Stop TRUMP in Crypto Act”, which blocks the President, Vice President, Members of Congress, and their immediate families from engaging crypto corruption and conflicts of interest. Identical to H.R. 3573 (118th Congress). | Submitted |
| 3 | Version 1 | Waters (CA) | Democrat | Replaces language in the GENIUS Act that allows public non-financial companies to issue stablecoins, with language from the Clarity Rules Committee Print that establishes the separation of banking and commerce to clearly prohibit a non-financial company (e.g. Facebook, Amazon, Walmart, etc.) from owning a payment stablecoin issuer. | Submitted |
| 4 | Version 1 | Waters (CA) | Democrat | Inserts critical consumer protections from the bipartisan Waters-McHenry stablecoin bill including third party vendor oversight; additional resolution framework tools; language encouraging issuers to consider in their application the benefit to the public and underserved individuals; closes loophole that allowed uninsured banks to engage in money transmission or custodial services nationwide without the approval or oversight of other State regulators; reserves the authorities of relevant regulators; financial privacy; and more. | Submitted |
| 5 | Version 1 | Waters (CA) | Democrat | Adds criminal penalties for exchanges that violate the foreign issuer prohibition. Establishes that the Treasury Secretary cannot deem a foreign country to have a stablecoin regime comparable to that of the U.S. if the current leader of that country has described themselves as a dictator. | Submitted |
| 6 | Version 1 | Davidson (OH) | Republican | Prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar). Further, the Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from testing, studying, creating, or implementing a central bank digital currency, with exceptions as provided by the bill. | Submitted |
| 7 | Version 1 | Friedman (CA) | Democrat | Ensures that stablecoin issuers adhere to capital and liquidity requirements, interest rate risk controls, Bank Secrecy Act and sanctions compliance, and cybersecurity and operational safeguards to protect the broader financial system from instability from potential stablecoin failures. | Submitted |
| 8 | Version 1 | Friedman (CA) | Democrat | Cracks down on crypto ATM scams that target seniors by requiring crypto ATM operators to implement anti-fraud policies and empowering law enforcement to combat fraud. | Submitted |
| 9 | Version 1 | Friedman (CA) | Democrat | Protects national security and the American financial system by preventing foreign stablecoins from accessing U.S. markets and enhances anti-money laundering and sanctions compliance measures. | Submitted |
Committee Votes
Rules Committee Record Vote No. 147
Motion by Mr. McGovern to make in order amendment #1 to S. 1582, offered by Representative Davidson, which protects an individual's right to maintain a hardware wallet or software wallet for the purpose of facilitating the individual’s own lawful custody of digital assets; and to engage in direct, peer-to-peer transactions in digital assets with another individual or entity for the individual’s own lawful purposes using a hardware wallet or software wallet. The text is identical to Section 105(c) of Rules Committee Print 119-6 for H.R. 3633, the Digital Asset Market Clarity Act of 2025. Defeated: 6–6
Rules Committee Record Vote No. 148
Motion by Mr. McGovern to strike section 9 of the rule, which provides authority for the Rules Committee to bring a rule for the Senate amendment to H.R. 4, the Rescissions Act of 2025, to the floor on the same day it is reported out of the Rules Committee. Defeated: 4–8
Rules Committee Record Vote No. 150
Motion by Mr. McGovern to add a new section to the rule which would provide for consideration of a resolution introduced by Representative Veasy, H. Res. 577, which affirms Congress’s Article I authority to conduct oversight, demands that the Trump Administration release the Epstein files, calls on the Department of Justice and FBI to submit a report on any delays, suppression, or destruction of evidence related to the files, and supports full transparency and access to these documents in the interest of justice and accountability. The resolution shall be considered under a closed rule with one hour of debate, equally divided and controlled by the Committee on the Judiciary. Defeated: 4–8
Rules Committee Record Vote No. 155
Motion by Mr. Jack to report the rule. Adopted: 8–4