Landmark Stablecoin Bill Advances in Senate Banking Committee
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The Senate Banking Committee advanced landmark stablecoin legislation Thursday in a major victory for the ascendant cryptocurrency industry, despite strong objections from top Democrat Elizabeth Warren.
The 18-6 vote puts a priority of President Donald Trump on a fast track in the full Senate. The bipartisan bill would govern privately issued, dollar-based stablecoins, which the industry claims will enable cheaper and faster transactions across the globe for anyone with a smartphone.