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U.S. Senate’s Revised Stablecoin Bill Eases Democratic Concerns, Leaves Consumer Advocates Wanting
U.S. Senate’s Revised Stablecoin Bill Eases Democratic Concerns, Leaves Consumer Advocates Wanting
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The latest iteration of the U.S. Senate’s stablecoin legislation has undergone significant revisions, potentially smoothing the path for Democratic support. Earlier objections centered on conflicts arising from former President Donald Trump’s cryptocurrency holdings and the prospect of tech giants like Meta and X issuing stablecoins.
While proponents hail "major victories" in negotiations, consumer protection groups argue the bill remains inadequate. The legislation, which cleared the Senate Banking Committee with bipartisan backing in March, stalled last week amid Democratic pushback.
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