💨 Abstract

Senate Democrats have blocked a bill to regulate stablecoins, a type of cryptocurrency. The bill aimed to create a federal framework to regulate the industry, which is currently governed by various state and federal laws. Democrats argued that the bill didn't have enough protections and could benefit President Donald Trump, who has significant crypto ventures and interests. The stablecoin industry has been thriving, with Trump's involvement complicating the legislative process. Democrats proposed changes and will continue negotiations.

Courtesy: wtop.com

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