0
0
News

Senate Votes to Halt Stablecoin Bill Over Frustrations with Trump’s Personal Involvement

Democrats in the Senate pointed to the President’s efforts to enrich himself via crypto ventures as a central reason for the block.
0
0
May 9, 2025 • 1 min read

The U.S. Senate voted to halt the stablecoin bill, citing procedural delays and tension surrounding Trump’s crypto policies.

What’s the Scoop?

  • Cloture Vote: The Senate voted via cloture on Thursday, ceasing work on the stablecoin bill due to the involved procedural process.
  • Political Friction: Senators from both sides expressed frustration, with John Thune criticizing Democrats' revisions leading to six bill iterations.
  • Lack of Bill Text: Senators like Raphael Warnock emphasized that critical elements like the GENIUS Act still lacked finalized bill text.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.