#USStablecoinBill Pro-cryptocurrency Democrats withdraw their support for the stablecoin bill at the last minute

A group of nine U.S. Democratic senators stated that they will oppose the stablecoin bill in its current form, threatening its chances of approval.

Pro-cryptocurrency Democrats withdraw their support for the stablecoin bill at the last minute:

A group of U.S. Democratic senators known for their support of the cryptocurrency industry have declared that they will oppose a stablecoin bill led by Republicans if it moves forward in its current form.

The measure threatens to stall legislation that could establish the first regulatory framework in the U.S. for stablecoins, according to a May 3 report from Politico.

According to the report, nine Senate Democrats said in a joint statement that the bill "still has numerous issues that need to be addressed." They warned that they would not support a procedural vote to advance the legislation unless changes are made.