Senators predict passage of bipartisan crypto bill
Key architects of a Senate bill that would create rules for stablecoins, a type of cryptocurrency pegged to other assets like the US dollar, told Semafor Wednesday that they expected revised legislation to pass by the end of next week — without language aimed at the Trump family’s crypto profits.
A push to advance the legislation last week imploded after crypto-friendly lawmakers were unable to finalize Democrat-sought revisions in time. Some Democrats had advocated for language that would prevent President Donald Trump from making money off an affiliated meme coin and stablecoin.
“I do think that’s a fair target,” Sen. Cynthia Lummis, R-Wyo., said when asked whether the Senate would pass stablecoin legislation by Memorial Day….
