TechFlow news, May 19 — According to financial media Semafor citing a source familiar with the matter, U.S. senators are expected to move forward tonight with legislation to establish regulations for stablecoins (a type of cryptocurrency pegged to assets such as the U.S. dollar), following a previous failed attempt. Another source said Senate Minority Leader Schumer held a conference call with Democratic caucus members on Sunday to discuss an unreleased draft text that includes reforms sought by Democrats. However, these adjustments are still insufficient to win support from progressive lawmakers such as Massachusetts Senator Elizabeth Warren. She issued a memo stating that the latest version’s ban does not adequately target relevant digital assets, “fueling Trump's cryptocurrency corruption.” A third source indicated that negotiations over potential additional amendments are ongoing, while banks are privately expressing concerns, including whether issuers have the capacity to pay interest.
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