S.Amdt. 2255

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.''.
______