Senate Pushes Crypto Bill as 16 Democrats Bolt
Washington, D.C. |May 20, 2025 –
Senate Pushes Crypto Bill as 16 Democrats Bolt. In a groundbreaking move, the U.S. Senate voted 66-32 on Monday to advance a major cryptocurrency bill, marking a historic step toward federal regulation of stablecoins-digital assets pegged to the U.S. dollar.
What makes this vote even more dramatic? 16 Democrats joined most Republicans to cross the 60-vote threshold needed to move the bill forward, signaling a rare moment of bipartisan agreement in today’s divided political climate.
What’s This Crypto Bill About?
Championed by Sen. Bill Hagerty (R-Tenn.) and co-led by Sen. Kirsten Gillibrand (D-N.Y.), the bill seeks to establish America’s first regulatory framework for stablecoins. If passed, it would give digital asset issuers clear federal guidelines and much-needed legitimacy in a market that’s long operated in a regulatory gray zone.
How Did the Vote Play Out?
After weeks of intense backroom negotiations, last-minute changes finally got enough Democrats on board. This marks a major turnaround after Senate Democrats blocked a similar attempt less than two weeks ago. The latest draft was shared with senators over the weekend and is expected to be adopted via amendment before the final vote.
What’s the Controversy?
Not everyone is thrilled. Sen. Elizabeth Warren (D-MA) fiercely opposed the bill, raising alarms over possible national security and consumer protection issues. She didn’t mince words, calling it a “bill that turbocharges the stablecoin market” while potentially enabling corruption and shady dealings-especially involving Trump-linked crypto ventures.
During the vote, warren was seen in a tense exchange with Gillibrand right on the Senate floor-a rare display of visible disagreement among Democrats.
Supporters Say the Time Is Now for Senate Pushes Crypto Bill as 16 Democrats Bolt
Supporters argue that this bill is necessary to bring clarity safety, and innovation to one of the fastest-growing sectors in finance.
“This vote is a milestone in our bipartisan efforts to regulate stablecoins,” said Sen. Gillibrand. “We’ve created a strong, responsible framework that will shape the future of digital finance.”
Even Sen. Mark Warner (D-VA)- a vocal critic of Trump’s Crypto ties – voted yes, nothing that blockchain is “here to stay” and that regulation is better than letting the market run wild.
What’s next?
The Senate’s approval of the procedural motion paves the way for a final vote, though it likely won’t happen until after the Memorial Day recess. If the bill passes, it heads to the Republican-controlled House, where it will be reconciled with a similar bill that already cleared the House Financial Services Committee. For Searching Senate Pushes Crypto Bill as 16 Democrats Bolt also visit: https://www.politico.com/live-updates/
And after that? All eyes will be on President Donald Trump, who will have the final say on the U.S. embraces formal crypto regulation for the first time.
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