Democratic senators are increasingly withdrawing their support for stablecoin legislation, raising concerns about national security, accountability, and foreign issuer oversight. This shift highlights growing skepticism among lawmakers regarding the bill’s viability.
Senate Majority Leader John Thune is pushing for a vote on the stablecoin bill before Memorial Day, needing at least seven Democratic votes to succeed. Meanwhile, the Arizona Governor’s veto of a strategic reserve bill has sparked criticism within the crypto community.
Leave a Reply