Crypto scores a victory as stablecoin legislation stays alive in Senate
A bill to regulate stablecoins passed a key procedural hurdle in the Senate Monday night, paving a path for final passage of legislation pushed by the crypto industry as early as this week.
The bill still faces hurdles by some Democrats including Sen. Elizabeth Warren, who argued against the proposed legislation on the floor of the Senate Monday night.
Warren argued the bill doesn’t prohibit President Trump and his family from profiting off stablecoins, nor does it provide enough protections for financial system stability.
Other Democrats, including Sen. Kirsten Gillibrand of New York and Sen. Angela Alsobrooks of Maryland, pulled together enough support to keep the bill going and overcome opposition from the Warren…
