Crypto-Backed Stablecoin Bill Gets Push for Revival in Senate

Senators in both parties are working to quickly revive stablecoin legislation backed by the crypto industry that faltered after a furor over President Donald Trump’s growing portfolio of lucrative crypto ventures.

Republican Senator Bill Hagerty of Tennessee, the lead sponsor of the legislation, said in an interview at the Capitol that staff in both parties have continued to work on the legislation. He expressed hope that Democrats would agree to pass the bill before the Memorial Day recess, given that the Senate will soon focus on the GOP’s signature tax and spending package.

“The window is now,” he said. ...