US EditionSenate advances a major crypto regulation bill on a bipartisan vote
- The Senate voted 66-32 on Monday to advance bipartisan legislation regulating stablecoins in the U.S.
- The vote followed weeks of uncertainty after Senate Democrats initially blocked the bill over concerns linked to Trump’s family benefiting from crypto ventures.
- Negotiators won Democratic support by strengthening rules on foreign issuers, boosting enforcement, banning tech giants from issuing stablecoins, and adding ethics rules preventing lawmakers from issuing stablecoins.
- The legislation seeks to create a federal regulatory structure for the stablecoin market, which is valued at $250 billion and backed by real-world assets to reduce crypto volatility, while Senator Mark Warner emphasized the importance of establishing clear guidelines to safeguard consumers.
- The vote maintains one of President Trump’s key priorities, highlights the cryptocurrency industry’s growing political influence, and sets the stage for a potential Senate final vote this week amid ongoing House work.
97 Articles
97 Articles
Why Are Some Democrats Making Cryptocurrency Too Big to Fail?
Senate Democrats must decide whether to provide the votes to pass a pro-cryptocurrency bill. The measure, the first to regulate the digital currency industry, had been stalled over objections that it would make cryptocurrency too big to fail, enable foreign meddling in American elections, and, in essence, legalize Donald Trump’s cryptocurrency rug-pulling and get-rich schemes. But after negotiators modified it, the bill cleared a crucial Senate …
Crypto bill advances, Grassley says he wouldn't invest in digital currency - Radio Iowa
Iowa Senator Chuck Grassley voted with his colleagues last night in advancing the first major bill that would more closely regulate cryptocurrency. In a conference call with Iowa reporters this morning, Grassley was asked if he’d personally invest in crypto. “I would not invest, but that doesn’t mean that that’s got any sort of indication […]
CT, NY Senate Democrats at odds over stablecoin legislation
Sen. Kirsten Gillibrand, D-N.Y., speaks at a confirmation hearing, at the Capitol in Washington.(John McDonnell / AP)Federal lawmakers from New York and Connecticut want to regulate the cryptocurrency stablecoin. They have different ideas about what that should look like.On Monday, the U.S. Senate advanced legislation to create the country’s first regulatory framework for stablecoins, which are digital currencies pegged to the value of a stable …
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