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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
🆘 #Gate 2025 Semi-Year Community Gala# | Square Content Creator TOP 10
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Resistance to the Bill for These Coins in the USA: Technical Voting Hit a Snag! - Coin Bulletin
In America, the bill regarding stablecoin regulation could not take an important step to move to the discussion stage on Thursday due to intense resistance from the Democrats.
The crypto sector has been closely monitoring the bill that aims to regulate stablecoins such as Circle’s USDC and Tether’s USDT, which is considered one of the most significant legal battles of this year, as it tries to make progress in the Senate. However, despite the broad bipartisan approval in the previous Senate Banking Committee, the bill is currently stalled due to a technical vote. It received only 48 votes instead of the required 60 votes to move into the debate stage. Senate Majority Leader John Thune made a strategic move at the end of the vote by casting a "no" vote to ensure the bill could be brought back to the agenda in the future.
The opponents of the bill provided the strongest obstruction at this stage, as it only needed to receive 60 votes to move to the next stage. After the bill passes, it could be accepted with a simple Senate majority, so the Republicans are in a position to push this process through on their own by bringing all their members together.
However, some Democrats opposed this bill by expressing concerns that President Donald Trump's relationships with the crypto sector could lead to potential conflicts of interest. This situation was particularly raised by Senator Ruben Gallego, who received 10 million dollars in support from the crypto sector for the 2024 elections.
Due to the lack of progress in the discussions, Senator Gallego stated that some time should be given for the bill to be drafted in the correct language and expressed that the process should not be rushed.