The founders of Crypto went to Washington, DC, to meet the legislators before another vote expected on a stable bill which initially failed in the Senate, according to the CEO of Coinbase, Brian Armstrong.
In a position X of May 14 of the Rotunda of the American Capitol, Armstrong said that “60 (60 (60 founders)” had gathered at DC to support the orientation and establishment of national innovation for American ecunines, or Genius Act, examined in the Senate and a market structure bill through the House of Representatives.
The CEO of Coinbase said that the Senate could consider another vote on the genius law “hopefully tomorrow” after failing to obtain sufficient support from the Democrats on May 8.
“Like any good negotiation, there are a lot of details to work at the last minute, but we highlighted the urgency,” said Armstrong.
Many Democratic legislators have declared that they will not support any legislation linked to the crypto without a specific neckline for the American president Donald Trump benefiting from his digital asset companies, such as his Trump even and his family company World Liberty Financial.
A member of democratic staff told Cointtelegraph that there was no indication that the Republicans intended to respond to these concerns, while a person familiar with the case said it would be unconstitutional.
The Senate resumed the examination of the request for genius law on May 12, suggesting another vote in a few days. Cointelegraph stretched out Coinbase for comments but had not received an answer at the time of publication.
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Is the Bipartite Crypto support possible under a Trump presidency?
The Republicans currently have a thin majority in the Senate and the House and will probably require democratic support for the bills of the structure of the stables and the structure of the market. Before the 2024 elections, some Democrats voted with the Republicans for cryptographic legislation offering clarity on regulations.
If the sponsor and co-sponsors of the Genius Bill try to go ahead with a vote without any change, it is not clear if it would have sufficient support to erase a majority of 60 votes and avoid an obstacle, which could delay or block the bill.
“Despite the policy around the Trump and Crypto investments – which has definitely made our work more complicated – I always maintain that behind the scenes, you have constructive members on both sides of the Capitol and in the two political parties working to find a consensus,” said the representative French Hill at the Consensual Conference in Toronto on May 14.
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