Crypto Firms Buoyed by Trump Get Rocked as US Bill Delayed
(Bloomberg) — The unbridled optimism that permeated the crypto industry during Donald Trump’s first year back in power is giving way to angst, after a much-awaited digital-asset bill was delayed in the Senate amid frenzied debate over the treatment of stablecoins.
The Senate Banking Committee on Wednesday delayed its discussion of the bill, hours after Coinbase Global Inc. pulled its support for the latest version. Among elements of the bill Coinbase and other firms are lashing out against are limits on their ability to offer yield or rewards on customers’ stablecoin holdings.
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