{"id":19965,"date":"2026-01-15T23:01:52","date_gmt":"2026-01-15T23:01:52","guid":{"rendered":"https:\/\/bitunikey.com\/news\/crypto-in-a-tizzy-after-stablecoin-bill-hits-senate-speed-bump-even-with-trump-in-charge\/"},"modified":"2026-01-15T23:01:59","modified_gmt":"2026-01-15T23:01:59","slug":"crypto-in-a-tizzy-after-stablecoin-bill-hits-senate-speed-bump-even-with-trump-in-charge","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/crypto-in-a-tizzy-after-stablecoin-bill-hits-senate-speed-bump-even-with-trump-in-charge\/","title":{"rendered":"Crypto in a tizzy after stablecoin bill hits Senate speed bump\u2014Even with Trump in charge"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Last year around this time, crypto bros were taking victory laps as Donald Trump was getting ready to return to the White House. A year later, reality crashed the party. <\/p>\n<div id=\"cn-block-summary-block_d9be939937ac503f5acd78db1a2d36e6\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>The Senate Banking Committee postponed discussion of a key stablecoin bill after Coinbase withdrew its support.<\/li>\n<li>Crypto execs, despite getting their way with the 2024 election, still say they\u2019re disadvantaged compared with banks and global markets.<\/li>\n<li>Lummis signaled that crypto\u2019s tantrum-style response shows the industry isn\u2019t ready for serious regulation.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>A much-hyped stablecoin bill hit a delay in the Senate on Wednesday, leaving digital-asset firms clutching their wallets\u2014and their sense of entitlement.<\/p>\n<p>The crypto industry, which spent months convincing itself that a Trump presidency would be a nonstop jackpot, suddenly looks like a toddler denied a second scoop of ice cream. Coinbase Global and other digital-asset companies were quick to voice their displeasure after the Senate Banking Committee postponed discussion of the bill\u2014hours after Coinbase yanked its support.<\/p>\n<p>The sticking point? Limits on paying yield or \u201crewards\u201d on customers\u2019 stablecoin holdings. Yes, the same stablecoins that reportedly helped fuel crypto\u2019s political optimism and even \u201cboosted\u201d Trump\u2019s election mojo are now causing existential dread in boardrooms.<\/p>\n<p>Shares didn\u2019t take it lightly, either. Coinbase dipped 6.4% at the end of trading Thursday. Circle followed suit, dropping nearly 10%.<\/p>\n<p>The latest bill could ban stablecoin yield outright, though some reward schemes might survive. Crypto executives are already squinting at the legalese like it\u2019s a particularly cruel Sudoku puzzle. According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-01-15\/crypto-firms-buoyed-by-trump-get-rocked-as-crucial-bill-delayed?srnd=phx-crypto\" target=\"_blank\" rel=\"nofollow\">Bloomberg<\/a>, Nana Murugesan, a former Coinbase exec, summed it up: the law is not straightforward.<\/p>\n<p>Traditionally, stablecoins have enticed users with yield to keep them from converting back into fiat currency\u2014because why settle for a savings account when your digital cash can pay you in\u2026 more digital cash? But banks, naturally, are raising eyebrows, warning that yield-bearing stablecoins could steal deposits from them.<\/p>\n<p>Coinbase\u2019s CEO Brian Armstrong, a proud Trump backer, took to X to declare the company was pulling support due to \u201ctoo many issues.\u201d <\/p>\n<h2 class=\"wp-block-heading\">\u2018They\u2019re not ready\u2019<\/h2>\n<p>Senator Cynthia Lummis didn\u2019t hold back either, tweeting that crypto\u2019s reaction \u201cproves they just are not ready\u201d\u2014a gentle reminder that even with Trump\u2019s <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/sec-drops-nearly-60-crypto-064316054.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAANOxP5Z4yd_IFvbd3yoEkfajlqxjxHj9CgoUwcZeQGpnMM4H-K9QOZviAmyMk0dd4Gner_yF6INIqauixcfWl47zLjmrxqHQhCSmo5_KwwsLdgwlrpIW9xnujmdLzyuoFLeiATJj92AkqThqQShj_feE3-PkPe_C6kNUzJUrWYIc\" target=\"_blank\" rel=\"nofollow\">political favors<\/a>, markets\u2014and lawmakers\u2014have their own moods.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Last year around this time, crypto bros were taking victory laps as Donald Trump was getting ready to return to the White House. A year later, reality crashed the party.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":19966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=19965"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19965\/revisions"}],"predecessor-version":[{"id":19967,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/19965\/revisions\/19967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/19966"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=19965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=19965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=19965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}