A significant step was taken towards the regulation of Stablecoins in the United States Senate, since legislators voted from 68 to 30 to advance with relevant legislation.
The Senate’s decision on Wednesday to invoke the clotura on the “National Innovation Law for National Innovation for the United States”, or genius, points out an imminent final vote on the measure. Cloture is a procedure mechanism designed to accelerate the debate and bring a bill to vote.
Addressing his colleagues on the Senate floor before the vote, Senator Tim Scott, a South Carolina Republican, commented: “Let me be clear, this did not happen by accident. It happened because we conducted. To those who said that Washington could not act, to those who doubted bipartisanship, let’s prove that they were wrong.”
The vote saw a division between the Democrats, with notable figures such as the leader of the Chuck Schumer Senate minority in New York, Amy Klobuchar de Minnesota and Elizabeth Warren of Massachusetts without votes. On the contrary, some Democrats, including Senator Ruben Gallego de Arizona, supported the bill. The center of the Senate proposal are provisions that require Stablecoins to be fully supported by US dollars or equally liquid active, together with the annual audit requirements for issuers with a market capitalization that exceeds $ 50 billion.
Kosta Gustov
Reporter in Coindoo
Kosta has been part of the team since 2021 and has solidified his position with thirst for knowledge, an incredible dedication to his work and a “detective” mentality. Not only covers a wide range of tendency issues, but also creates reviews, public relations articles and educational content. His work has also been referenced by other media.
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