Stablecoin Coalition Cracks as Democrats Threaten Filibuster (2)

A bipartisan alliance backing stablecoin legislation shattered in the US Senate as a key group of Democrats threatened to block a bill that Republicans had hoped to pass this month — unless “numerous” fixes are made.

Senator Ruben Gallego of Arizona, a crypto-friendly freshman who backed the bipartisan measure regulating dollar-pegged cryptocurrencies in the Banking Committee, led a statement Saturday from nine Democrats in the chamber warning that they would filibuster the bill.

“The bill as it currently stands still has numerous issues that must be addressed, including adding stronger provisions on anti-money laundering, foreign issuers, national security, preserving the ...