💨 Abstract

The Senate has advanced legislation to regulate stablecoins, a type of cryptocurrency, after Democrats initially blocked the measure due to concerns over President Trump's involvement in the crypto industry. The procedural vote was 66-32, with several Democrats switching their support after negotiations. The bill aims to create a federal framework for stablecoin regulation, addressing issues like foreign issuers and preventing large tech companies from issuing their own stablecoins.

Courtesy: wtop.com