Though the U.S. stablecoin bill is widely expected to clear its biggest hurdle soon, Trump's crypto interests will be targeted with an attempted amendment.
Senator Bill Hagerty, who backed the Senate's version of the legislation, predicted the body will "make history" next week by passing the bill.
The legislation to regulate stablecoin issuers hit a big bump a week ago, but negotiations continued and the latest version may move again.
Gillibrand suggested that the long-awaited stablecoin bill could become law before the August recess.
U.S. crypto legislation can happen this year, Senate Majority Leader Chuck Schumer (D-N,Y,) said Wednesday at the first major event in which crypto insiders have come out for Vice President Kamala Harris as their favored presidential contender.
Pro-crypto organization Coin Center is pushing against a new legislative bill targeted at regulating stablecoin use and operations. In a public statement released on Friday, the US-based advocacy group heavily criticized the Lummis-Gillibrand Payment Stablecoin Act, describing it as “unconstitutional” and anti-innovation. Related Reading: ‘Ethereum Wins Big’ With New US Stablecoin Draft Bill: Expert Latest […]
U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) are taking another swing at crypto-specific legislation, with a narrowly tailored bill seeking to define how stablecoins – cryptocurrencies that maintain a value with some other asset, like the U.S. dollar – will operate in the U.S.