Stablecoin Bill Battle: Sen. Lummis Admits She Underestimated the Political Grind

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 bureaucratic quicksand. "I had no idea how hard this was going to be," the Wyoming Republican confessed during a recent banking committee hearing, dropping the kind of understatement that’d make a Wall Street analyst cackle into their third espresso.

The roadblocks? Classic DC. Treasury wants oversight, progressives scream about "wildcat banks," and lobbyists—oh, the lobbyists—are carving up the bill like a hedge fund manager dissecting a startup’s balance sheet.

Meanwhile, the market isn’t waiting. Tether’s still printing, Circle’s eyeing IPO glory, and that guy from your crypto Telegram group just DM’d you about a "100% stable" algo-coin. Some things never change.