AlondraCrypto
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🔸The United States Senate failed to advance a key bill to regulate stablecoins, as a procedural vote fell short with 48 votes in favor and 49 against, well below the 60 needed to move to the debate phase.
The main reason for the blockage was last-minute objections from some Democratic Senators. Despite previous bipartisan work, these Democrats expressed concerns about the need for greater safeguards against illicit activities and pointed to the former President Donald Trump's ties to the crypto industry as a potential conflict of interest. Two Republican Senators also voted against.
This outcome significantly delays the process for stablecoin legislation to advance in Congress. Supporters of the bill, including Republicans and some Democrats, expressed their disappointment and confusion, highlighting the concessions made to the Democrats and the urgency of establishing a regulatory framework. The future of the bill now depends on whether the Democrats decide to revisit the issue "when they are ready to get serious," according to statements from the Republican majority leader.$BTC
$TRUMP
The main reason for the blockage was last-minute objections from some Democratic Senators. Despite previous bipartisan work, these Democrats expressed concerns about the need for greater safeguards against illicit activities and pointed to the former President Donald Trump's ties to the crypto industry as a potential conflict of interest. Two Republican Senators also voted against.
This outcome significantly delays the process for stablecoin legislation to advance in Congress. Supporters of the bill, including Republicans and some Democrats, expressed their disappointment and confusion, highlighting the concessions made to the Democrats and the urgency of establishing a regulatory framework. The future of the bill now depends on whether the Democrats decide to revisit the issue "when they are ready to get serious," according to statements from the Republican majority leader.$BTC
$TRUMP
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