{"id":8867,"date":"2025-05-06T00:16:38","date_gmt":"2025-05-06T00:16:38","guid":{"rendered":"https:\/\/bluelightnews.com\/category\/politics\/thune-open-to-changing-senate-crypto-bill-to-win-over-dems\/"},"modified":"2025-05-06T00:16:38","modified_gmt":"2025-05-06T00:16:38","slug":"thune-open-to-changing-senate-crypto-bill-to-win-over-dems","status":"publish","type":"post","link":"https:\/\/bluelightnews.com\/category\/politics\/thune-open-to-changing-senate-crypto-bill-to-win-over-dems\/","title":{"rendered":"Thune open to changing Senate crypto bill to win over Dems"},"content":{"rendered":"
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Senate Majority Leader John Thune<\/a> 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.<\/p>\n

\u201cChanges can be made on the floor for sure,\u201d Thune told reporters Monday. He added that he is \u201cwaiting to see what it is [Democrats] are asking for.\u201d<\/p>\n

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.<\/p>\n

\u201cDemocrats and Republicans are talking to each other right now,\u201d said Senate Minority Leader Chuck Schumer<\/a> (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.<\/p>\n

Concerns from Democrats may not be the only vote-counting hurdle Republicans face in the coming days. Sen. Rand Paul<\/a> 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.<\/p>\n

\u201cBusinesses come to Washington and they say, \u2018Please regulate us.\u2019 And usually I say, \u2018Well, you\u2019ll be sorry,\u2019\u201d Paul said.<\/p>\n

The Kentucky Republican added that he is \u201call for stablecoin,\u201d which he said could someday compete with the payment giants Mastercard and Visa, but added: \u201cIf you place all kinds of limits on it \u2014 I don\u2019t know enough to know whether this might harm them in their competitive ability to actually overtake Mastercard and Visa.\u201d<\/p>\n

Paul added that he wonders \u201cif this is some kind of thing to build up purchase of Treasuries,\u201d which stablecoin issuers would be allowed to hold as reserves backing their dollar-pegged tokens.<\/p>\n

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\u2019t support<\/a> revisions that Republicans unveiled last week.<\/p>\n

Sen. Ruben Gallego<\/a> (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.<\/p>\n

\u201cI\u2019m hoping we could get it done by then,\u201d he told reporters. \u201cIf we can\u2019t then, yeah, then push back. But there\u2019s no reason why we can\u2019t.\u201d<\/p>\n

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<\/a> (D-Va.), who also voted for a previous version of the bill in the Senate Banking Committee, said there are \u201creal-time meetings going on right now.\u201d<\/p>\n

\u201cI think we need a regulated stablecoin regime, but we\u2019ve got legitimate national security issues,\u201d he said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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. \u201cChanges can be made on the floor for sure,\u201d Thune told […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-8867","post","type-post","status-publish","format-standard","hentry","category-congress"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts\/8867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/comments?post=8867"}],"version-history":[{"count":0,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/posts\/8867\/revisions"}],"wp:attachment":[{"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/media?parent=8867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/categories?post=8867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bluelightnews.com\/category\/politics\/wp-json\/wp\/v2\/tags?post=8867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}