A House Financial Services Committee markup of stablecoin legislation appeared to go off course Wednesday, with Democrats spending hours hammering home the same message: Democrats would in principle support the STABLE Act, but see President Donald Trump’s personal involvement in the stablecoin sector as an unacceptable conflict of interest.
Multiple Democrats, including a co-sponsor of the STABLE Act itself, offered amendments to the bill on Wednesday that would have prevented the president, his cabinet, the first lady, and special government employees like Elon Musk from offering stablecoin products while in office.
One by one, over the course of hours, those amendments were shot down by voice vote the Committee’s slim Republican…
Apr 08 2025
