BTCC
/
BTCC Square
/
Coindesk
/
Stablecoin Bill Battle: Sen. Lummis Admits She Underestimated the Political Grind
Stablecoin Bill Battle: Sen. Lummis Admits She Underestimated the Political Grind
17
1
Washington’s crypto clash hits a wall—even true believers are feeling the burn.
Senator Cynthia Lummis—once a lone Bitcoin bull in Congress—now admits her stablecoin regulation push is stuck in the swamp. ‘I had no idea how hard this was going to be,’ she confesses, in a rare moment of political candor.
Behind the scenes: Lobbyists and legacy banks are playing defense. Every draft gets diluted, every hearing devolves into jurisdictional turf wars. Meanwhile, Tether’s market cap keeps ballooning—because nothing screams ‘regulatory urgency’ like a $100B+ shadow banking system.
The irony? Stablecoins were supposed to be the easy win. A bipartisan no-brainer. But in D.C., ‘common sense’ just means another revenue stream for consultants.
By:
