Democratic lawmakers say Senate stablecoin bill has broad support

U.S. Senator Ruben Gallego said that as many as 16 Democrats may support the Senate's stablecoin bill in the final vote. This is despite the opposition of Republicans last month due to concerns about consumer protection and other provisions. However, a week and a half later, Gallego and other Democrats who strayed from the vote changed their tune and expected the bill to pass smoothly in the Senate. He mentioned that Democrats and Republicans worked together in good faith and sincerity in formulating relevant legislation, and absorbed many suggestions and amendments from Democrats. Even so, he still believes that the bill has improved. However, he also mentioned some unprofessional behavior on the Republican side during the process of advancement. Despite this, Gallego still believes that Republicans will continue to support the passage of the bill and said that if this state of cooperation can continue, the bill will be approved by a significant majority in the Senate. In addition, he also emphasized the importance of another piece of legislation, namely the establishment of structural regulations for the cryptocurrency market, which is crucial to the successful implementation of the stablecoin bill. He believes that even if both bills are successfully passed within the year, it is difficult to ensure that the market can develop rapidly, so more energy will be invested in the work of formulating and implementing relevant regulatory measures. Finally, he said that if the drafting of the two bills could be completed and signed by the president before January, it would make future developments clearer.