Senate Democrats, led by Ruben Gallego, have withdrawn their support for the stablecoin bill, creating uncertainty about its future amid bipartisan tensions. This withdrawal reflects growing discord over cryptocurrency regulation impacting the financial landscape.
Gallego and eight other Democrats push for amendments, while Elizabeth Warren raises concerns about corruption linked to the bill, highlighting a divided party amid legislative challenges.
As political gridlock persists, market volatility is expected, with implications for stablecoin issuers awaiting federal guidance amidst ongoing debates over crypto regulations.
Full story here: https://coincu.com/335833-senate-democrats-stablecoin-legislation-shift
