#USStablecoinBill

Bipartisan discussions about the groundbreaking cryptocurrency bill faced an unexpected hurdle after nine key Democratic senators stated on Saturday that they would not support the amendments proposed by GOP lawmakers last week. The bill would create the first-ever federal regulatory framework for so-called stablecoins, which are tied to the value of the dollar.

GOP aides involved in the discussions said they were stunned by the Democrats' statement on Saturday, who argued that the revised proposal did not go far enough to address money laundering and protect the broader financial system. However, Republicans still hope that there is a way forward to gain the support of Democrats.