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The US Senate advances stablecoin legislation, bipartisan cooperation seeks breakthroughs.
Gate.io News bot message, Bloomberg reports that the U.S. Senate is accelerating the legislative process for stablecoin regulation. Previously, the legislation was paused due to controversies related to Trump's cryptocurrency portfolio. Republican Senator Bill Hagerty plans to complete the bill's passage before the Memorial Day recess. The primary Democratic sponsor, Maryland Senator Angela Alsobrooks, stated that senators are actively pushing forward, and she along with four other Democrats have cast votes in favor in the Banking Committee. The Senate needs 60 votes to pass the legislation. Industry leaders, including Coinbase CEO Brian Armstrong, are calling for a quick resolution to the current deadlock.
Source: Bloomberg