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Senate Passes Stablecoin Bill in Win for Crypto, Trump

WATCH: Franklin Templeton’s Sandy Kaul believes stablecoin legislation is “critical.”Source: Bloomberg

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By Steven T. Dennis and Yash Roy

June 17, 2025 at 9:49 PM UTC

Updated on

June 17, 2025 at 10:53 PM UTC

Takeaways by Bloomberg AI

The US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar, in a landmark win for the ascendant crypto industry and President Donald Trump.

The 68-30 vote on Tuesday evening marked a rare moment of bipartisanship in the deeply divided Senate, despite Republicans blocking Democratic efforts to bar Trump from profiting from his many crypto ventures while in office.

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