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Key Democrats Pull Support from Senate Stablecoin Bill

Trump's personal crypto dealings appear to be a sticking point for the Dems in passing new legislation.
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May 5, 2025 • 1 min read

Democrats have withdrawn support for the bipartisan Senate stablecoin bill due to concerns over its updated provisions on financial security and oversight.

What’s the Scoop?

  • Democratic Pushback: Nine Senate Democrats have publicly opposed revisions to the bipartisan stablecoin bill, citing insufficient measures to tackle money laundering and protect the financial system.
  • Stalled Progress: The stablecoin legislation, initially supported by some Democrats, has faced delays due to disagreements over updated provisions introduced by GOP lawmakers.
  • Political Implications: The clash exposes divisions within the Democratic Party and raises questions about bipartisan efforts to regulate stablecoins under the Trump-backed legislative agenda.

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