Trump’s crypto ventures complicate path for stablecoin legislation as Democrats revolt
Democrats are putting up new resistance to crypto legislation prioritized by the Trump administration as they object to the involvement of the Trump family in that industry, in addition to a host of other issues.
Their resistance burst into the open this past weekend as nine Democrats, led by Sen. Ruben Gallego (Ariz.), released a public statement opposing the GOP-led Senate bill that seemed likely to deliver a major crypto win for Trump and Republicans.
The bill would establish rules governing stablecoins. Stablecoins are pegged to other assets, such as the US dollar.
Senate Minority Leader Chuck Schumer last Thursday urged members not to commit to voting for the stablecoin bill, saying they need leverage to make changes,…
