Senate's New Stablecoin Draft Doesn't Target Trump's Crypto, Tweaks Big-Tech Approach

Description

The U.S. Senate's latest draft of the stablecoin bill dodges answers on President Donald Trump's crypto dealings but weighs in on big tech firms issuing tokens.

Authors

Nikhilesh De

Jesse Hamilton

Publish date

May 15, 2025

Publisher

CoinDesk

Web URL

https://www.coindesk.com/policy/2025/05/15/senate-s-new-stablecoin-draft-doesn-t-target-trump-s-crypto-tweaks-big-tech-approach

Referenced by

New GENIUS Act draft could move forward soon

Crypto news

News story

The latest changes to the bill represent a mixed bag. The loudest requests from critics, that the president be explicitly stopped from personally benefiting from the crypto industry that his administration will regulate, were not directly addressed in this version of the bill.

Crypto news

Quote

The latest draft of the U.S. Senate's stablecoin legislation includes enough changes that Democratic senators may now have an easier time getting back on board, though consumer advocates say it still falls short.

Crypto news

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