GOP Senators Demand Action: ’Quit Stalling and Regulate Stablecoins Already’

Washington’s crypto paralysis continues as Republican lawmakers slam the brakes on progress—while private stablecoins quietly eat the dollar’s lunch.

Behind closed doors, Senate Republicans are pushing colleagues to finally debate bipartisan stablecoin legislation. The urgency? A $150B shadow monetary system growing faster than Congress can say ’hyperinflation’.

Key sticking points remain: Who gets to issue stablecoins (banks? tech firms?), and just how much oversight the Fed should have. Meanwhile, Tether’s market cap just hit another ATH—because nothing screams ’sound money’ like an opaque offshore entity.

One banking lobbyist muttered: ’If lawmakers moved this slow in the private sector, they’d be fired before lunch.’ The dollar peg may hold, but Congress’ credibility? That’s looking decidedly unstable.