Crypto-Backed Stablecoin Bill Blocked Amid Furor Over Trump Memecoin
The U.S. Capitol and Washington Monument in Washington.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Senate Democrats blocked stablecoin legislation backed by the digital assets industry amid a furor over President Donald Trump’s extensive and growing portfolio of crypto ventures.
Backers of the bill failed to muster enough support to bring it up for consideration with only 48 senators voting in favor Thursday, short of the 60 votes needed.