Bloomberg: Stablecoin bill is driven by bipartisans in the United States and is expected to restart quickly in the Senate

PANews May 14th news, according to Bloomberg, senators from both parties are accelerating the "rebirth" of stablecoin legislation supported by the crypto industry. The legislation was previously blocked by controversy over Trump's crypto portfolio. Tennessee Senator Bill Hagerty, the principal Republican sponsor of the legislation, said at the Capitol that the two parties are continuing to advance and hope that the Democrats will pass before the recession on May 26. Because the Senate will focus on the Republican fiscal and taxation plan, he bluntly stated that "it is time to see whether rationality has the upper hand."

Progressive Democrat Elizabeth Warren and others pushed for banning Trump and other officials from profiting from crypto investment in their term, but the Republicans refused. Chuck Schumer and others complained that there was no public text on the compromise plan between the two parties. Principal Democratic promoter, Maryland Sen. Angela Alsobrooks, said the Senator was working hard, and she and four Democrats had voted in favor on the banking committee. In the Senate, most legislation requires 60 votes, and Democratic support is crucial. Crypto industry executives such as Coinbase are pushing to resolve the deadlock. The digital asset industry spent a lot of money to elect crypto-friendly lawmakers last year, and this trend may continue until the 2026 midterm elections.