Congress
Thune open to changing Senate crypto bill to win over Dems
Senate Majority Leader John Thune said Monday he is open to amending landmark cryptocurrency legislation that GOP leaders hope to pass in the coming weeks on the floor, as Republicans scramble to negotiate changes that would win over enough Democrats to advance the bill.
“Changes can be made on the floor for sure,” Thune told reporters Monday. He added that he is “waiting to see what it is [Democrats] are asking for.”
His comments come as key Democrats are negotiating to get changes to the crypto legislation, which would create the first-ever U.S. regulatory framework for digital tokens known as stablecoins that are pegged to the value of the dollar.
“Democrats and Republicans are talking to each other right now,” said Senate Minority Leader Chuck Schumer (D-N.Y.), who privately urged members last week not to commit to supporting the stablecoin legislation in order to extract additional concessions from Republicans.
Concerns from Democrats may not be the only vote-counting hurdle Republicans face in the coming days. Sen. Rand Paul said in an interview Monday he is undecided on the legislation, which could add a new headache for Republican leaders who need 60 votes to pass the bill.
“Businesses come to Washington and they say, ‘Please regulate us.’ And usually I say, ‘Well, you’ll be sorry,’” Paul said.
The Kentucky Republican added that he is “all for stablecoin,” which he said could someday compete with the payment giants Mastercard and Visa, but added: “If you place all kinds of limits on it — I don’t know enough to know whether this might harm them in their competitive ability to actually overtake Mastercard and Visa.”
Paul added that he wonders “if this is some kind of thing to build up purchase of Treasuries,” which stablecoin issuers would be allowed to hold as reserves backing their dollar-pegged tokens.
The stablecoin bill hit a surprise roadblock over the weekend when a group of nine Senate Democrats who were previously open to backing the legislation said they wouldn’t support revisions that Republicans unveiled last week.
Sen. Ruben Gallego (D-Ariz.), who voted for a previous version of the stablecoin bill when it cleared the Senate Banking Committee in March, said negotiations are ongoing and he hopes to come to a deal with Republicans ahead of a procedural vote that GOP leaders are eyeing to hold on Thursday.
“I’m hoping we could get it done by then,” he told reporters. “If we can’t then, yeah, then push back. But there’s no reason why we can’t.”
His comments are a sign that pro-crypto Democrats remain open to supporting the stablecoin legislation on the floor, despite concerns from other members of the caucus about advancing the measure as the Trump family pursues digital assets business ventures. Sen. Mark Warner (D-Va.), who also voted for a previous version of the bill in the Senate Banking Committee, said there are “real-time meetings going on right now.”
“I think we need a regulated stablecoin regime, but we’ve got legitimate national security issues,” he said.
Congress
Biden-era DOJ memo: Trump hoarded classified documents relevant his businesses
President Donald Trump maintained government documents relevant to his business interests after he left office, according to an internal memo from former special counsel Jack Smith’s office.
The memo, viewed by Blue Light News, was transmitted by the Justice Department to the House and Senate Judiciary Committees earlier this month. It was turned over in response to Republican-led probes into the investigations Smith led during the Biden administration surrounding Trump’s alleged mishandling of classified documents after leaving office, as well as his efforts to subvert the results of the 2020 election.
“Process is very much ongoing but the FBI has already since found both — that classified documents were commingled with documents created after Trump left office and that there are classified documents that would be pertinent to certain business interests,” stated the memo, dated Jan. 13, 2023.
The second volume of Smith’s report on his team’s investigative findings, which centers around the classified documents case, is currently under a court-ordered seal. Democrats have been pushing for DOJ to release it in hopes that it could reveal damaging information about the president. New information about Trump’s conduct, unearthed in this memo, could only heighten the pressure on the administration to make the full report public.
It also could inform questions from members of the Senate Judiciary Committee, which is due to invite Smith to testify in a public hearing on his Trump investigations in the coming months.
Rep. Jamie Raskin of Maryland, the top Democrat on the House Judiciary Committee, alleged in a new letter to Attorney General Pam Bondi dated Tuesday that the memo suggests Trump “may have sold out our national security to enrich himself.”
Raskin also alleged that the DOJ appeared to have violated the judicial order compelling the seal of the second volume of Smith’s report in handing over some materials to Congress, including grand jury material.
A Justice Department spokesperson, in a statement Wednesday, rejected Raskin’s claims and called his move a “political stunt.”
The spokesperson said that it was unsurprising that Smith’s “files contain salacious and untrue claims about President Trump,” and the files handed over to Congress did not violate the court order, nor did they disclose relevant grand jury material.
“We understand that Jamie Raskin, much like Jack Smith, is blinded by hatred of President Trump,” the spokesperson wrote. “However, he needs to get his facts straight — this Department of Justice is the most transparent in history in part because of our efforts to expose the weaponization of the Biden administration in full compliance with the law and the court.”
Abigail Jackson, a White House spokesperson, also in a statement maintained that Trump “did nothing wrong” and called Raskin’s actions “pathetic.”
A spokesperson for House Judiciary Democrats pointed to the irony in the Trump administration claiming to be “the most transparent in history” when it was refusing to release Smith’s findings.
“Another day, another manufactured outrage from the left,” a spokesperson for House Judiciary Republicans countered.
The 2023 memo transmitted to Congress also stated that Trump maintained documents that were so sensitive that only few had access to them beyond the president, and the fact that he had materials relevant to his business interests suggested “a motive for retaining them.”
“These new disclosures suggest that Donald Trump stole documents so sensitive that only six people in the entire U.S. government had access to them,” Raskin wrote in his letter to Bondi. “It is time for you to stop the cover-up and allow the American people to know what secrets he betrayed and how he may have cashed in on them.”
Gregory Svirnovskiy contributed to this report.
Congress
GOP framework still ‘best landing spot’ for DHS funding, Thune says
Senate Majority Leader John Thune defended on Wednesday a Department of Homeland Security funding framework as it comes under heavy criticism from Democrats and some conservatives.
“I think it’s going to be … still the best landing spot, but we haven’t heard anything back from the Dems yet,” Thune said when asked if the framework was still viable.
He added that the best way for the shutdown to end would be for Democrats to “take a deal” but added that he doubted they “have a clear idea about what they want to do or how they see us concluding.”
“But hopefully they want to see it conclude, because we do, too,” he added.
Thune said he spoke Tuesday night with President Donald Trump, who has yet to publicly endorse the framework. Asked if he thought the president supported it, Thune declined to comment.
Republicans offered this week to take funding for ICE’s Enforcement and Removal Operations out of the DHS funding bill that was on offer in January. But Democrats have balked, saying enforcement policy changes would have to be included in a bill that even partially funds ICE.
The Senate is scheduled to begin a two-week recess later this week, but Thune said it was an “open question” whether that happens.
“If we haven’t figured out how to fund the government, then it seems like that really complicates us leaving here,” he said.
Congress
GOP policy chair election April 16
House GOP leaders announced in a closed-door meeting Wednesday that the election to fill the vacant leadership role of policy chair will be the morning of April 16. Republicans will hold a candidate forum the afternoon of April 15, according to four people granted anonymity to discuss the plan.
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