Bloomberg: Stablecoin Bill Gains Bipartisan Support in the U.S., Poised for Swift Revival in the Senate

Odaily Planet Daily News: According to Bloomberg, U.S. bipartisan senators are accelerating the push for the "rebirth" of stablecoin legislation supported by the cryptocurrency industry. Previously, the legislation was stalled due to controversies surrounding Trump's cryptocurrency investment portfolio. The primary Republican sponsor of the legislation, Tennessee Senator Bill Hagerty, stated at the Capitol that both parties are continuously advancing, hoping for Democratic approval before the May 26 holiday recess, as the Senate will focus on the Republican fiscal plan. He candidly remarked, "It's time to see if reason can prevail."

Progressive Democrats like Elizabeth Warren are pushing to ban officials like Trump from profiting from cryptocurrency investments during their terms, which has been rejected by Republicans. Chuck Schumer and others have complained about the lack of public text for the bipartisan compromise proposal. The primary Democratic sponsor, Maryland Senator Angela Alsobrooks, stated that senators are working hard, and she, along with four other Democrats, has voted in favor in the Banking Committee. In the Senate, most legislation requires 60 votes, making Democratic support crucial.