Senate stablecoin bill trips on cloture vote
48-49 cloture vote on whether to proceed to the bill came after Democrats decided that bill sponsor Bill Hagerty, R-Tenn., didn’t go far enough to satisfy them in the revised bill he released on May 1.
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Stablecoins bill faces hurdle after Democrats withdraw support
that would facilitate issuance of stablecoins — digital currencies pegged to a reserve asset, in this case, the U.S. dollar — said over the weekend they wouldn’t vote for a revised bill released on May 1.