Senate Draft Shifts Focus from Trump to Big Tech in Crypto Regulations

A key amendment to a stablecoin bill by Senate Democrats has shifted the regulatory focus away from Donald Trump’s cryptocurrency activities, instead targeting big tech companies and their involvement in stablecoins. This change prioritizes consumer protection while aiming to limit the influence of large technology firms within the crypto space. Senator Elizabeth Warren led the charge, highlighting concerns about potential corruption associated with Trump’s stablecoin ventures. The draft aims to establish new regulatory frameworks that could significantly impact stablecoin issuers and overall cryptocurrency markets.