After a wave of support and donations from the crypto industry swept Donald Trump and a group of pro-blockchain lawmakers into office, the Senate is expected to complete the first stage toward advancing a landmark bill that would create guardrails for stablecoins.
On Thursday, the Senate Banking Committee is scheduled to mark up the legislation, a process where lawmakers consider changes to a bill’s text, before moving forward to a full floor vote. Stablecoin legislation, which would regulate a type of crypto asset tied 1-to-1 with the U.S. dollar, has long been a priority for crypto-friendly lawmakers in both the House of Representatives and Senate.
