Senate Sets May Vote on Stablecoin Regulation Amid Industry Pressure

The U.S. Senate is poised for a critical vote on stablecoin regulation this May, with Senate Majority Leader John Thune reportedly pushing to bring the legislation to the floor before Memorial Day. The bill, which cleared the Senate Banking Committee in March, aims to create a legal framework for dollar-backed digital currencies, mandating licensing and reserve requirements for issuers.

Democratic resistance lingers, notably from Senator Elizabeth Warren, who has criticized the proposal’s perceived gaps in consumer protections. The move comes as the crypto industry intensifies lobbying efforts for regulatory clarity.

Meanwhile, speculative interest grows around meme coins like Fantasy PEPE, whose presale launch has drawn attention despite the broader regulatory developments.