A genius -friendly genius law fails to vote on the Senate as well as the defect of the Democrats

In a rare occurrence, which may last for a week only, Democrats in the Senate showed some of the spine and voted in an important procedural vote on the law of genius, a draft law established (very weak) to use Stablecoins. The invoice was expected to be sealed, given the number of coded Democrats in the assembly, but he would now have to return to the drawing board before going out to vote again, which is what It can happen early next week.

The draft law eventually failed to vote on Thursday, and only achieved 48 Of the necessary 60 votes that would formally end the draft debate and allowed it to advance to the full vote. There was a expectation before the vote that a sufficient number of Democrats would cross the corridor and vote in favor of moving the bill forward, according to what he said. Submit reports from the American possibility. But Democratic Senate members who are members of Crypto Caucus-Ruben Gallego, Mark Warner, Lisa Blunt Rochester, and Any Kim, Kirsten Gillbrand and Angela also (one of the invoice participants) all voted to close the discussion.

Changing the heart from Democrats-who, again, can easily change and practice this thing next Monday-partially arises from concerns about the distribution of the growing empire in Donald Trump, which includes the recently launched Stablecooin and which is called $ USD1 announced by the global financial world connected to Trump earlier this year. This was Stablecoin in the news recently because an investment company in Abu Dhabi announced that it would use $ USD1 for investment 2 billion dollars in the exchange of encrypted currencyApparently create An endless network of conflicts of interests With the president at the center.

After this announcement, along with some unexpected changes made by the Republicans on the bill without the inclusion of Democrats in the conversation, led to a failure on Thursday. Decrypt mentioned Both parties met again and again within the 24 hours that preceded the vote in the hope of settling their differences, but they were unable to reach a timely agreement. Once the expected “yes” vote, the Republic of Arizona Robin Galligo Make up“The Republicans killed her, because my colleagues do not have enough time to read the changes we suggest.”

Senator Warner clearly signal The plan is still passing this thing, just with some changes. in statementHe said: “There is no doubt that Stablecoins is part of the future of financing, and the United States must determine the level of innovation responsible in the digital financial space.” He also said that he was still “completely committed” to pass it as soon as he and his colleagues could “strengthen this legislation”.

If the draft law is passed, it will create some very light regulations to issue Stablecoins, which are supposed to be linked to the Fiat currency and are used to facilitate transactions. The draft law will define criteria for capital and liquidity requirements, establish mandatory audits, and make Stablecoin exporters subject to the requirements of anti -money laundering requirements for the banking confidentiality law. Although this may be better than nothing, it is also basically Exactly what the encryption operators pressed for him.

The draft law also takes zero steps towards preventing public employees from taking advantage of Stablecoins, which suddenly has become an urgent issue because the president weighs to the office. It is said that Trump and his family have He achieved $ 2.9 billion of their encryption projects Until now, there is currently nothing standing in the way of continuing to obtain an unorganized industry often its management is currently determining the standard.

According to what was reported, Democrats will be pushed to restrict Trump and other elected offices to spend on Stablecoins, For every AxiusBut it is not clear whether it will prove that it is a real collapse or if Dems will fold. Next week we will discover if this newly discovered spine will stand up during the weekend.