Stablecoin Legislation Has Gone from ‘Slam Dunk’ to ‘at Risk’: Bitwise CIO

By: defi news|2025/05/08 23:15:02

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Senate Republicans are racing to meet Democratic lawmakers’ demands for changes to the GENIUS Act before a procedural vote scheduled for later today, May 8.Bringing the Senate's stablecoin bill to a procedural vote would prevent a filibuster of the bill if 60 Senators support it. But it’s not clear if changes to the bill’s anti-money laundering (AML) and consumer protection provisions will be enough to win back Democratic support.In a recent interview with The Defiant, Bitwise’s CIO, Matt Hougan, said recent pushback from Democrats against the Senate’s stablecoin bill has made him change his view of U.S. lawmakers’ approach to regulating crypto.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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