Washington, DC – Up to 16 Democrats can vote in favor of the Senate stable bill when he arrives at his last set of votes in the legislative body, said Arizona Ruben Gallego Senator on Thursday.
The law on the stablescoins of “Guiding and Italid Innovation for US Stablecoins of 2025” (Genius) was faced with winds on the contrary last month after Gallego led a group of democrats against the voting for the Clot, a procedural obstacle which would advance legislation, citing concerns concerning the protection of consumers and other provisions.
In less than a week and a half, however, Gallego and other Democrats who defected the vote overturned, and the Arizona legislator told Coindesk that he predicted that his colleagues would continue to get him out of the Senate.
“We worked in a very honest and serious way with our republican colleagues, [and] We think they did the same, “he said in an interview.” They have adopted many changes, most of the amendments we added. “”
“It is a significantly different bill,” he said.
He said he had managed his colleagues to block the first vote by the fence “because we did not think it was a good product” and the Democrats needed more time to solve the problems they had with the legislation
Gallego later declared at the “Charting The Course Summit: Crypto Clarity in America” of the Blockchain Association which he had spent “hours and hours” personally negotiating the language with other legislators, but the republican team pulled a “power game” to push a useless version to a vote on the Senate. “They tried to block us,” he said.
He therefore led his colleagues in a brief effort to slow down things and ask for changes, he said.
‘Good product’
“I really wanted to bring a good product to the ground,” said Gallego. And so far, his republican counterparts “have honored everything we have agreed.”
If this continues, the bill should go to a final vote next week which obtains great bipartite approval, said Gallego, who, according to him, could show even more support than previous procedural votes.
Even if the bill is successful, as it expects, it does not work without adopting legislation to set up regulations for the structure of broader cryptographic markets.
He added that he hoped that the legislation on the structure of the market would be worked in a bipartite manner, noting that if the bill on stables is likely to progress by the congress, “there is little time on the calendar” to browse other bills. The Senate will have to conclude budgetary legislation at a given time, in addition to the bill on the structure of the market which it ultimately introduces.
“The product of the room must be strong,” said Gallego, and this will lead what is happening in the Senate. “We don’t want to start from the first box.”
“Optimistic” deadline
Gallego suggested that an August period is optimistic and added that as long as it is made at the beginning of next year, before March, it may not be marred by the next year congress elections.
“We all become like animals during the electoral cycle,” he said about his colleagues from Capitol Hill.
The member of the French Hill Congress, who heads the Chamber’s Financial Services Committee, agreed with Gallego that the finishing of the two bills is vital.
“I don’t go back to [former Securities and Exchange Commission Chair] Gary Gensler, “said Hill.” But if we do not transmit the two invoices, we are potentially to this whim at any time “, to return to the interpretation of regulators operating without tailor -made laws.
Without market structure legislation, traditional financing companies and the general public may not be also ready to immerse themselves in the digital asset sector, he said.
“The people of traditional finance will not associate themselves, will not be in police custody, will not be as a broker, will not be as a concessionaire, will not hire to create a ramp or a ramp off. It will not be interoperable.
Hill said that the legislators of the parties and the chambers still have a chance to move the bills by August, “if we cooperate with each other.”
The Congress will try to move the two bills to the office of President Donald Trump by August, said the representative of Wisconsin, Bryan Steil. Dusty Johnson, which represents the southern Dakota, said that there could be differences in opinion between the Chamber and the Senate on at least the legislation on the structure of the market.
“We can take a genius, but I don’t think they would necessarily take our closing of clarity, storage and barrel,” said Johnson during the event.
The bills of the Chamber and the Senate must be identical before the president can sign them. Either one of the legislative bodies should register on the work of the other organization, or the two bodies should negotiate differences.
‘A loud and strong voice’
The Chamber’s Financial Services Committee will keep an increase on the market structure bill next Tuesday.
“We have a lot of work we have to do,” said Gallego, noting that stretching the process until the start of next year is still working.
“If we go too fast with a shitty product, then we will have a shit vote,” he said.
The cryptographic industry must also be more unified in the way it is approaching the legislators, said Summer Mersinger, CEO of the Blockchain Association, in its first public appearance in the role since which left the Futures Futures Trading Commission.
“We have to speak in a loud and strong voice in Washington,” she said. “Speaking with a single voice does not mean that we must all think in the same way or we have to agree on each problem.”
However, the various groups and companies that pressure Washington should find common ground, she said.
Read more: Stablecoin’s bills in the Chamber and the Senate still need to register on several points: French Hill
