{"id":2431193,"date":"2025-05-05T20:26:58","date_gmt":"2025-05-06T00:26:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thune-to-plow-ahead-with-stablecoin-bill-despite-democratic-opposition-washington-examiner\/"},"modified":"2025-05-05T20:29:01","modified_gmt":"2025-05-06T00:29:01","slug":"thune-to-plow-ahead-with-stablecoin-bill-despite-democratic-opposition-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thune-to-plow-ahead-with-stablecoin-bill-despite-democratic-opposition-washington-examiner\/","title":{"rendered":"Thune to plow ahead with stablecoin bill despite Democratic opposition &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthune-to-plow-ahead-with-stablecoin-bill-despite-democratic-opposition-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2431193&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Senator John Thune (R-SD) is moving forward with the GENIUS Act, a bipartisan <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stablecoins-what-they-are-and-why-congress-is-looking-to-write-rules-for-them\/\" title=\"Exploring Stablecoins: Why Congress Considers Regulating Them\">stablecoin legislation<\/a>, despite opposition from a group of nine crypto-friendly Democrats who are <a href=\"https:\/\/amzn.to\/3YuVZYV\" >seeking stronger provisions<\/a> regarding money laundering adn accountability measures. A <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-impeachment-trial-begins-this-week\/\" title=\"Trump Impeachment Trial Begins This Week\">procedural vote<\/a> is expected later this week, but the late demands could jeopardize the bill&#8217;s passage in the Senate, as it requires support from at least seven Democrats to overcome a filibuster. Notably, divisions related to former President Donald Trump&#8217;s involvement in cryptocurrency have added complexity to the discussions, as some Democrats like Senator Chuck Schumer (D-NY) have expressed hesitation. This legislation represents a significant step for the cryptocurrency industry, which has invested heavily in the upcoming elections to influence favorable regulations. Failure to pass the bill woudl be a setback for both the industry and Trump&#8217;s aspirations for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-democrats-push-reformed-voting-rights-laws\/\" title=\"Biden administration, ... push reformed voting rights laws\">bipartisan support<\/a>.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Thune to plow ahead with stablecoin bill despite Democratic opposition<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_2114198\" class=\"tpd-featured-video bridtv\"><\/div>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/senate-republicans\/\">Republicans<\/a> will bring bipartisan <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/cryptocurrency\/\">stablecoin legislation<\/a> to the Senate floor despite last-minute opposition from a bloc of crypto-friendly Democrats.<\/p>\n<p>The Senate will hold a procedural vote later this week on the GENIUS Act, a spokesperson for Majority Leader <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/john-thune\/\">John Thune<\/a> (R-SD) confirmed on Monday, after nine Democrats <a href=\"https:\/\/x.com\/EleanorTerrett\/status\/1918812355321872439\">demanded<\/a> &ldquo;additional improvements&rdquo; to the bill on Saturday.<\/p>\n<div class=\"recommended-stories\">\n<h2>Recommended Stories<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/3401293\/brian-kemp-bows-out-2026-georgia-senate-race-ossoff\/\">Brian Kemp bows out of 2026 Georgia Senate race, setting stage for fierce GOP primary<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3400806\/chuck-schumer-trump-constitution-comments-un-american\/\">Schumer unloads on Trump after Constitution comments: &lsquo;Un-American&rsquo;<\/a><\/li>\n<li><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/3399661\/trump-judicial-fights-civil-liberties-concerns\/\">Republicans uneasy over civil liberties backlash to Trump<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"article-paywall\">\n<p>The legislation, which sets rules of the road for digital coins, is the product of months of negotiations and had been expected to sail through the Senate. But the late demand by Democrats has <a href=\"https:\/\/www.politico.com\/news\/2025\/05\/03\/crypto-democrats-senate-stablecoin-00325255\">thrown into limbo<\/a> whether the measure has the seven Democratic votes needed to clear the filibuster.<\/p>\n<p>All nine Democrats now opposing the bill are relatively friendly to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/after-backlash-lawmakers-introduce-amendment-to-senate-infrastructure-bills-crypto-tax\/\" title=\"After Backlash, Lawmakers Introduce Amendment To ... Infrastructure Bill\u2019s Crypto Tax\">crypto industry<\/a>, while four had supported an earlier version when it passed the Banking Committee in March.<\/p>\n<p>In a joint statement, the Democrats said the legislation needed &ldquo;stronger provisions&rdquo; to combat money laundering, protect the U.S. financial system, and ensure &ldquo;accountability for those who don&rsquo;t meet the act&rsquo;s requirements.&rdquo;<\/p>\n<p>Sen. Kirsten Gillibrand (D-NY), the lead Democratic sponsor of the stablecoin bill, has pushed for its adoption, negotiating further amendments from the Republicans meant to satisfy her colleagues.&nbsp;<\/p>\n<p>But the bill is being brought to the floor amid divisions over President Donald Trump and his family&rsquo;s foray into cryptocurrency. Last week, a UAE-backed fund <a href=\"https:\/\/www.nytimes.com\/2025\/05\/01\/us\/politics\/trump-cryptocurrency-usd1-dubai-conference-announcement.html\">agreed to use<\/a> the Trump stablecoin &ldquo;USD1&rdquo; for a $2 billion transaction, stoking allegations that the president is using his office for financial gain.<\/p>\n<p>Those divisions played out last week when senators vented their concerns about the legislation at a closed-door caucus lunch. At that meeting, Senate Minority Leader Chuck Schumer (D-NY) urged Democrats not to commit to the legislation, <a href=\"https:\/\/www.axios.com\/2025\/05\/02\/trump-stablecoin-genius-act-schumer-gillibrand\">according to<\/a> <em>Axios<\/em>.<\/p>\n<p>Failure to pass the bill would amount to a major setback for the cryptocurrency industry, which poured tens of millions into the 2024 elections in hopes of securing regulations favorable to digital coins.<\/p>\n<p>It would also deny Trump a rare bipartisan victory. Republicans are trying to pass most other parts of his agenda through reconciliation, a party-line process that does not require Democratic votes.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/news\/senate\/3399355\/senate-abrego-garcia-spotlight-democratic-resolution\/\"><strong>DEMOCRATS TO REVIVE ABREGO GARCIA SPOTLIGHT WITH SENATE TRANSPARENCY VOTE<\/strong><\/a><\/p>\n<p>Sen. Dick Durbin (D-IL), the No. 2 Senate Democrat, told the <em>Washington Examiner<\/em> on Monday that he was unlikely to whip Democrats either way on the stablecoin legislation, but that he was &ldquo;inclined not to&rdquo; support it himself.<\/p>\n<p>Beyond Gillibrand, Republicans could receive Democratic support from Sen. Angela Alsobrooks (D-MD), another bill co-sponsor. Neither she nor Gillibrand signed on to the Saturday statement.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_2114198\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"2114198\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thune advances stablecoin bill despite Democratic pushback<\/p>\n","protected":false},"author":2651,"featured_media":2431194,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/11\/John-Thune-iijj33443.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[12577,54671,4762,54670,23610],"class_list":["post-2431193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-cryptocurrency","tag-democratic-opposition","tag-legislation","tag-stablecoin-2","tag-thune"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/11\/John-Thune-iijj33443.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2431193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2651"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2431193"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2431193\/revisions"}],"predecessor-version":[{"id":2431197,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2431193\/revisions\/2431197"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2431194"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2431193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2431193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2431193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}