The majority of U.S. Senate leadership, John Thune, recently stated that Republican Senators are pushing to pass an important stablecoin bill this week. This breakthrough legislation aims to establish a new legal framework for digital Tokens pegged to USD – a major shift for the cryptocurrency ecosystem and stablecoin market.
Thune emphasized that he is actively exploring amendment routes, with the goal of bringing the bill to the full Senate for review and voting this week. This action aims to address the legal gap regarding stablecoins, ensuring transparency and safety for digital asset transactions.
On Monday, Thune submitted a proposal to end debate on the bill. A procedural vote on this proposal could take place as early as Wednesday, determining whether the bill can quickly move to an official vote.
However, the negotiation process is being delayed. The primary reason stems from Senator Roger Marshall (from Kansas), who is requesting a vote on a controversial bill to address credit card swipe fees. This has prevented legislators from reaching a final consensus to expedite the stablecoin bill.
In summary, this new move from the U.S. Senate will create a strong impact on the cryptocurrency market, especially stablecoins – digital currencies pegged to 1 USD, which are core assets in many DeFi transactions and blockchain platform trading activities.
