Recently, the political battle over cryptocurrency legislation in the United States has become increasingly exciting! Following the controversy surrounding Trump's investment in digital assets, legislators from both parties have begun to push for the long-stalled stablecoin bill.

Republican Senator Bill Hagerty from Tennessee recently revealed that bipartisan staff are intensively negotiating the details of the bill. Considering the Senate is about to review the Republican-led tax expenditure plan, Hagerty hopes the Democrats will agree to pass this bill before the Memorial Day holiday. He said: "This is a critical time, and we are waiting to see if reason will prevail."

However, this is not so simple. Some progressive Democrats, led by Elizabeth Warren, insist on prohibiting Trump and other officials from profiting from cryptocurrency investments while in office, a proposal that has been flatly rejected by Republicans. Even Democratic leader Chuck Schumer expressed dissatisfaction with the lack of a formal text.

Interestingly, Democratic Senator Angela Alsobrooks from Maryland confirmed that they are still actively advancing legislation. During the vote in the Banking Committee, five Democrats, including Alsobrooks, voted in favor. It is important to note that in the Senate, where 60 votes are needed to pass significant legislation, Democratic support is crucial.

The cryptocurrency industry is also not idle. Big names like Coinbase CEO Brian Armstrong are working hard to lobby in hopes of breaking the legislative deadlock. During the midterm elections last year, the digital asset industry spent a considerable amount of money supporting pro-cryptocurrency candidates, and it seems this trend will continue into the 2026 midterm elections.

Do you think this bill will pass smoothly? Feel free to share your thoughts in the comments! If you want to learn more about cryptocurrency policy developments, you can follow me!