The Senate adopts the draft law on a victory for the cryptographic industry

During a vote of 68-30 Tuesday evening, the Senate was massively adopted the law on genius with bipartisan support. Eighteen Democrats have joined the majority of Republicans to adopt the bill, which is the first to establish a federal regulatory framework for stablescoins, cryptographic tokens that are set at the value of the US dollar.

His passage had not always been assured. In May, nine Democrats who had already supported the act of genius reverse courseasking to revise the text of the bill, and a few days later, the senators Elizabeth Warren (D-MA) and Ron Wyden (D-WA) killed an attempt To bring the bill to a floor vote by quoting Several current events involving Crypto companies of the Trump family, including a controversial dinner For people with large amounts of their same $ Trump.

Warren, a classification member of the senatorial banking committee and a long -standing hawk of consumer protection, finally voted against the final version of the Act on Engineering. During a speech of June 11, she said that the bill did not have an adequate regulatory railings in place to prevent corruption: “This would make Trump the regulator of his own financial company and, above all, the regulator of his competitors.”

It is a victory, however, for the booming digital asset industry, which has paid hundreds of millions into the political influence in Washington, hiring political consultants and even some members of the Congress on their behalf. In an interview before Tuesday’s vote, Seth Hertline, responsible for the global policy of the Crypto Ledger portfolio company, described the law on engineering as a political bell tower for industry as a whole. “If the act of genius derails, everything behind it derails,” he said The penis.