Bloomberg: Rift Emerges in Stablecoin Legislative Alliance as Democrats Threaten to Use Filibuster to Block Bill

ChainCatcher news, according to Bloomberg, in the U.S. Senate, a bipartisan coalition supporting stablecoin legislation has fractured, as a group of key Democratic lawmakers threatened to use a lengthy debate procedure to block the bill unless it undergoes "numerous" amendments------while Republicans had hoped to pass the bill this month.

Newly elected Senator Ruben Gallego from Arizona, who is pro-crypto, led the statement. He had previously supported the bipartisan bill in the Senate Banking Committee, aimed at regulating cryptocurrencies pegged to the dollar. This Saturday, he, along with eight other Democratic senators, issued a statement warning that they would initiate a filibuster against the latest draft of the bill.