Senator Cynthia Lummis delivered remarks in support of landmark stablecoin legislation, emphasizing its significance in shaping the future of digital finance. Speaking just prior to the vote, Lummis highlighted the bill’s role in fostering innovation while ensuring regulatory clarity and consumer protection.

Legislation that would create a regulatory framework for U.S. dollar-pegged cryptocurrency tokens known as stablecoins faced a setback on Thursday as the bill failed to clear a key hurdle in the U.S.