According to a recent report by Punchbowl News, the head of the Senate minority, Chuck Schumer, is concerned Regarding Tether's treatment, the main Stablecoin issuer, in highly spoken engineering (guiding and establishing national innovation in American stables).
Schumer believes that Democrats should refrain from showing public support for the bill in order to be able to extract future concessions from the Republicans.
In March, Axios reported The fact that the Democratic senators, whose criticism of Crypto Elizabeth Warren, proposed a series of amendments to the bill on the stables with high issues which specifically dealt with national security and illicit finances.
In particular, the Democrats wanted to prevent the stablecoins issued abroad from being available in the United States. Such a amendment would be a blow for the Tether dominated by El Salvador, which remains the largest player in the Stablescoin market. The amendment was rejected by the Republicans and the bill succeeded in adopting the Senate Banking Committee in March.
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As Reported by U.TODAYPolitico recently reported that certain friendly crypto democrats, whose votes are crucial to adopting stable legislation, have now disturbed the bill. The Republicans planned to move forward with a full vote from the Senate before the Memorial Day, but the new reluctance of certain Democrats, including the Senator of Arizona Ruben Gallego, represents a major obstacle to the bill which could bring clarity to the American stable sector.
Punchbowl News claims that a schism emerged among the Democrats of the Senate at their lunch meeting on Thursday, which ultimately provoked convivial votes within the opposition party.
