The White House countered the bankers’ concerns on Tuesday by posting economic data suggesting the worries are misguided.

Jaret Seiberg, a policy analyst at TD Cowen, set the odds for a failure in the opening vote at 60%. In that scenario, he said, “Democrats, including those who are crypto friendly, decide the GOP changes are insufficient. It also likely means several Republicans vote no over stablecoin yield or law enforcement concerns.”

Keeping the process going

Meanwhile, the crypto industry is asking that lawmakers at least keep the process alive with an opening yes vote that allows them to continue talking.

“A yes vote is critical and keeps the process moving,” the leading crypto lobbying groups said in a joint statement on Tuesday….