Senate Stablecoin Bill Flatlines—Here’s Why Washington Can’t Get Its Act Together
Another day, another crypto regulation left in legislative limbo. The Senate’s much-hyped stablecoin bill—once touted as ’urgent’—now gathers dust while politicians bicker over jurisdiction. Guess some things never change in DC.
Behind the scenes: Lobbyists from both TradFi and DeFi camps are playing tug-of-war with the draft language. Meanwhile, Treasury officials keep ’urgently reviewing’ the same document since 2023. Classic bureaucratic theater.
The real kicker? This gridlock comes as stablecoin volumes hit record highs. Banks want oversight, crypto wants clarity, and Congress? They’re too busy calculating how this plays in the 2026 midterms. Priorities.
One cynical take: Maybe they’re waiting for the next Terra-style collapse to justify their existence. Wouldn’t be the first time regulators showed up after the fireworks.
