WASHINGTON, D.C. — A dizzying turnaround is happening in the U.S. Senate: after fierce opposition, 16 Democratic senators are now said to be turning to support the Stablecoin bill. But what is behind this 180-degree shift?
The 'GENIUS Act' – short for 'Guidance and Establishment of National Innovation for U.S. Stablecoins Act 2025' – was previously blocked due to concerns about the lack of consumer protection and loose regulations.
Senator Ruben Gallego, who once led the opposition to this law, has now become a proponent of its passage. He said, 'We have worked very thoroughly with the Republicans, and they have made many concessions. This is a completely different bill.'
But is it really just about 'amending a few provisions'? Or is there some underlying political factor causing the Democrats to change their tune? Pay attention to the timing: the 2026 election is on the horizon, and crypto could be a strategic card to win votes from the youth, businesses, and tech investors.
Gallego does not deny: 'As we enter the election season, everyone turns into... animals.' A half-joking, half-serious remark, but it accurately reflects the nature: political power is a survival game, and crypto has now carved its way into the big chessboard.
The remaining issue: is this 'turnaround' a strategic wise move, or a shady arrangement? Crypto needs clear laws, but not at any cost.