Democrats impede the legislation of stable currencies in the US Senate

Democrats in the Senate have hampered legislation of stable currencies, supported by the digital asset sector, amid widespread controversy over the major and growing president of President Donald Trump’s portfolio of encrypted currency projects. Supporters of the bill failed to mobilize sufficient support to submit it to the council with a majority of 49 votes compared to 48 votes Thursday, less than the required number of 60 votes. Many Democrats, including Brian Shatz and Chris Konz, said that the bill has not yet been completed, in light of the lack of a final legislative text that reflects compatibility. An item prohibits Trump to encrypted currency projects, Republicans have rejected the demands of Democrats to include an item that prevents Trump and other senior officials from having profit from encrypted currency projects while taking their positions. The two parties may reach an agreement in the coming weeks, as many Democrats describe the organization of stable currencies as needed to protect consumers and provide work rules for this emerging industry. Senator Mark Warner, a Democrat from Virginia, said against his previous reference to significant progress in the discussions that he hopes to revive this issue. If an agreement is reached, this legislation may be a turning point in the digital assets sector, which has strongly defended its approval. Trump has promoted MIM’s coin with his name on his platforms on social media and is expected to benefit from its success. The symbolic currency sales rose after the organizers launched a competition that gives its biggest containers the opportunity to join a private dinner with the president. Democrats, including Massachusetts Senator Elizabeth Warren, described this incentive as blatant corruption. This result is a victory for Warne, who urged Democrats to hinder the draft law unless the ban has been added.