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Senate Stablecoin Bill Hits Roadblock Amid Bipartisan Clash
Senate Stablecoin Bill Hits Roadblock Amid Bipartisan Clash
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Negotiations over a landmark cryptocurrency bill in the US Senate have collapsed, jeopardizing one of former President Donald Trump’s key financial policy priorities. The legislation, designed to create the first federal regulatory framework for stablecoins—digital assets pegged to the U.S. dollar—has encountered bipartisan resistance following objections from Senate Democrats.
Nine Democratic senators, including some who initially supported the bill in committee, issued a joint statement rejecting a revised version introduced by Republicans. They argue the new draft lacks critical safeguards against money laundering and fails to protect the financial system adequately.
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