Stablecoin Bill Advances in US Senate in Big Win for Crypto
Stablecoin legislation overcame a procedural blockade in the US Senate, marking a major victory for the crypto industry after a group of Democrats dropped their opposition Monday.
The industry-backed regulatory bill is now set for debate on the Senate floor with a bipartisan group hoping to pass it as soon as this week, although senators said a final vote could slip until after the Memorial Day recess.
Democrats had united to filibuster the legislation earlier this month amid a furor over President Donald Trump’s crypto dealings along with other concerns related to the regulation of stablecoins.
But the Senate voted 66-32 on Monday night to end the filibuster.
Crypto-friendly Democrats led by Senators Kirsten Gillibrand of…
