{"id":28895,"date":"2025-05-28T00:02:18","date_gmt":"2025-05-28T00:02:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28895"},"modified":"2025-05-28T00:02:18","modified_gmt":"2025-05-28T00:02:18","slug":"sen-lummis-on-push-for-stablecoin-bill-i-had-no-idea-how-hard-this-was-going-to-be","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28895","title":{"rendered":"Sen. Lummis on Push for Stablecoin Bill: \u2018I Had No Idea How Hard This Was Going to Be\u2019"},"content":{"rendered":"<div>\n<p>LAS VEGAS, Nevada \u2014\u00a0The U.S. Senate seems to be getting close to passing its landmark stablecoin bill, the GENIUS Act \u2014\u00a0a battle its champion Cynthia Lummis (R-Wyo.) said has been incredibly hard-fought.<\/p>\n<\/p>\n<p>\u201cIt has been extremely difficult,\u201d Lummis said during a fireside chat with Coinbase\u2019s Chief Legal Officer Paul Grewal at Bitcoin 2025 in Las Vegas on Tuesday. \u201cI had no idea how hard this was going to be.\u201d<\/p>\n<\/p>\n<p>Last week, the Senate voted to advance the bill, easily clearing the 60-vote threshold required to kick the bill to its last discussion phase before the final vote to pass it out of the body entirely. An earlier attempt failed on a bipartisan basis after Senate Democrats, led by long-time crypto sceptic Elizabeth Warren (D-Mass.), as well as several Republicans including Missouri\u2019s Josh Hawley and Kentucky\u2019s Rand Paul, voted against cloture.<\/p>\n<\/p>\n<p>Lummis, whose staff (along with that of the bill\u2019s co-sponsor, Kirsten Gillibrand (D-New York)) has played a key role in the behind-the-scenes negotiations to get the GENIUS Act passed, said that she thinks the Senate has reached a final deal. If the bill passes, both Lummis and Sen. Bill Hagerty (R-Tenn.), the bill&#8217;s sponsor, claimed that it would be the first piece of legislation passed out of the Senate Banking Committee in eight years.<\/p>\n<\/p>\n<p>\u201cIt\u2019s taken a tremendous amount of work,\u201d Hagerty said, speaking on a separate panel discussion on Tuesday. Hagerty added that long-time crypto skeptic Sen. Elizabeth Warren (D-Mass.), the bill\u2019s main opponent, made a concerted effort to drag out the proceedings in the hopes of stalling the legislation\u2019s progress.<\/p>\n<\/p>\n<p>Hagerty said that the bill, once passed, would be the most bipartisan piece of legislation to pass through the Senate Banking Committee in over a decade. While the bill\u2019s supporters see that as a win, they\u2019re also frustrated with the difficulty in getting legislation in general passed through the committee.<\/p>\n<\/p>\n<p>\u201cWe don\u2019t have the muscle memory anymore to legislate. That\u2019s our job,\u201d Lummis said. \u201cIt really is very frustrating, very exhausting, and you have to keep your creativity, your sense of humor and your patience about you.\u201d<\/p>\n<\/p>\n<p>Lummis added that she was \u201cvery hopeful\u201d the Senate could work behind-the-scenes with the House on a market structure bill, noting that the House has the advantage of \u201cmuscle memory\u201d (following its passage of FIT21 last year) over the Senate when it comes to the next hurdle of crypto legislation.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>LAS VEGAS, Nevada \u2014\u00a0The U.S. Senate seems to be getting close to passing its landmark stablecoin bill, the GENIUS Act \u2014\u00a0a battle its champion Cynthia Lummis (R-Wyo.) said has been incredibly hard-fought. \u201cIt has been extremely difficult,\u201d Lummis said during a fireside chat with Coinbase\u2019s Chief Legal Officer Paul Grewal at Bitcoin 2025 in Las [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-28895","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28895"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28895\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}