Crypto Lobbyists Urge U.S. Senators to Dodge Distraction in Stablecoin Debate

Top industry advocacy groups requested that the Senate stick to the task at hand as it mulls its stablecoin bill while unrelated amendments loom.

• A credit-card bill has threatened to complicate the debate over the crypto industry's stablecoin legislation in the Senate this week, as some seek to get the other matter added as an amendment.
• Industry lobbyists are hoping to keep U.S. lawmakers focused on the narrow purpose of the bill to regulate stablecoin issuersThe U.S. Senate's stablecoin bill is heading back into the final days of floor debate, and the crypto industry's Washington lobbyists are calling for senators to stay focused on the task even as other legislative efforts muscle into the debate.If the bill clears those potential obstacles and passes this week, it'll mark the first time a major piece of crypto legislation has cleared the Senate.

  The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is the Senate's much-revised effort to regulate the issuers of stablecoins — the steady tokens generally based on the value of a U.S. dollar, such as Tether's 

  USDT$1.00
   and Circle's 
  USDC$0.99970
  . The bill already cleared the Senate Banking Committee and an earlier floor-vote test with major bipartisan support, though many Democratic critics tied the effort to concerns over President Donald Trump's