Cody Carbone, CEO of Digital Chamber, a Washington, DC blockchain trade association and advocacy group, said the major Stablecoin law stall in the U.S. Senate has been modest and the bill will be passed in the coming weeks.
Speaking to the Cointelegraph at Consensus 2025, Carbone argued that it was the US’s greatest interest to pass comprehensive Stablecoin regulations to protect US dollar hegemony in the bipartisan appeal and supportive global markets. Carbone said:
“These things don’t move as fast as we want them to move, but it’s a stable law. This Congress is moving faster than we imagine. So yes, it’s a road conflict, but I think we have a different vote.”
The guidance and establishment of the 2025 US silly act, or the genius law, is considered an important part of the law. Failing comprehensive regulatory reforms before the 2026 midterm elections could mean a positive regulatory reversal and a recession in the crypto market.
“I’m still very optimistic as negotiations continue,” Carbone said. “This bill is expected to pass the Senate in the coming weeks.”
Related: What is the next step in the US Stubcoin bill?
Trump’s involvement in partisan politics and code is attributed to the failure of the bill.
The law did not pass a procedural vote in the Senate on May 8 after several Democrats retracted their support for the bill.
Similarly, Coinbase Chief Legal Officer Paul Growal said Trump’s cryptography complicates the regulatory process as lawmakers continue to scrutinise his activities in the Memocoin market, decentralized finance and the inappropriate token (NFT) sector.
Republican Sen. Tim Scott opposes concerns raised by Democratic policymakers, attributed to failures in partisan politics and attempts by Democrats to prevent Trump from achieving the administration’s digital assets goals.
The latest version of the bill removes references to the Trump family and could pass the Senate by the end of May, some industry executives say.
Magazine: Crypto wanted to overthrow the bank, now they’re in the battle of Stablecoin
