The Senate Democrats are struggling to promote Landmark Stablecoin legislation because of President Donald Trump’s increasing personal benefits of his own crypto tape.

Over the weekend, Senator Ruben warned Gallego, a Democrat, to represent Arizona with $ 10 million in the backing of Crypto Super Pac Fairshake, with eight of his colleagues that they would not vote to promote the current version of the guidance and establish national innovation for us stigecoins from 2025 (Genius Act), Senate’s stablecoin stable. The Senate needs 60 votes to move forward with any legislation.

However, the bigger question for the crypto industry can be the effect of this new match on the upcoming market structure legislation. StableCOin -Bill proposal should ultimately still sail through Congress, a person working with legislators and legislative helpers, told Coindesk, but any slowdown of the ongoing momentum can threaten this bill, which in turn is likely to delay any progress with market structural law, which is intended to define how the US securities and exchange commission will Industry. The Legislation on Market Structure – a bill that the industry has demanded for years – would cover a much wider activities than just the stableecoin bill.

In particular, two recent messages may have raised the Democrats’ concern and led to this weekend’s announcement: Trump’s announcement of a dinner for the top holders of his Memecoin and Abu Dhabi investment company MGX’s announcement that it would use the Trump family-backed World Liberty Financial’s USD1 Stableecoin for an investment in binance. Both suggest that Trump even personally can benefit from hundreds of millions of millions of dollars, USA Today said.

Trump claimed he did not benefit from his crypto -ventures during an interview with Meet the Press over the weekend.

“I don’t benefit from anything,” he said. “All I do is that I started so long before the election. I want crypto. I think crypto is important because if we don’t, China goes to it. And it’s new, it’s very popular, it’s very hot. If you look at the market when the market went down, it will be much stronger than other aspects of the market.

While Gallego’s announcement was released over the weekend, Democrats have been concerned behind the scenes for a few days, with Senator Chuck Schumer, the minority leader who warned Democrats to withhold support during a Caucus meeting last week, Coindesk confirmed. Axios first reported this rift.

One of the people who spoke to Coindesk said they were concerned about how long the battle for Trump’s commitment to Crypto may draw the legislative process for the stablecoin bill, what Democrats need to be comfortable to vote to promote the bill and whether the situation will prevent a market structure to promote at all.

Gallego’s statement signed by Democrats Mark Warner, Raphael Warnock, Lisa Blunt Rochester, Catherine Cortez Masto, Andy Kim, Ben Ray Luján, John Hickenlooper and Adam Schiff, the legislators said “acknowledges that the absence of regulatory leaders consumers is unavailable, for bipartet for at bipartiser for at regulere forbrugerne har forbrugere ubeskyttet og sårbar til rovdyrpraksis “og at dette er nødvendigt for bipartet for bipartet for at bukke for at regulere forbrugere leaves forbrugerne og ikke beskyttet og sårbar til rovdyrpraksis” og at dette er nødvendigt for bipartet for bipartet for bipartise for at bipartise for at bipartis kan fordrage og have været for Bipartet for Bipartet for Bipartet for Bipartet for Bipartis “Legislation.

“However, the bill, as is currently the case, still has several problems that need to be solved, including the addition of stronger provisions on money laundering, foreign issuers, national security, preservation of security and health in our financial system and accountability for those who do not meet the requirements of the law,” the statement states.

Gallego, Warner, Kim and Blunt Rochester had previously joined Republicans in voting to promote the bill out of the Senate Bank Committee.

Senator Elizabeth Warren, who heads the Democrats of the Senate Bank Committee, was far more blunt in a post on Social Media Site Bluesky and said the Senate should not pass a bill that would “facilitate this kind of corruption,” with reference to MGX’s announcement – shared publicly by Eric Trump, one of the president’s sons – last week.

“The Trump family StableCecoin rose to 7th largest in the world because of a shady crypto deal with the United Arab Emirates – a foreign government that will give them a crazy amount,” she said.

She wrote a joint letter with co -democrat Jeffrey Merkley to the acting director of the US Office of Government Ethics, which asked her office to investigate the MGX agreement on Monday.

The stalking momentum is not limited to the Senate. Earlier Monday, Rep told. Maxine Waters, the leading them in the House Financial Services Committee, the committee’s chairman that she would block the efforts to hold a joint consultation with the House Agriculture Committee, which deals with market structure problems.

“Most of this is politics,” wrote Jaret Seiberg, an economic-political analyst with TD Cowen, in a Monday note for clients. He said Trump’s personal share in crypto makes it difficult for Democrats to support StableCOin -Bill proposal that would regulate his family’s business. Still, he predicted it will still pass the Senate, though not this week.

“The Crypto lobby is politically powerful and has shown a willingness to devote its significant resources to influencing Washington,” Seiberg said. “It’s hard for us to see why Democrats would take that fight when they can exploit significant concessions from the GOP on the StableCOin bill.”

Lobbyists for the crypto industry seem alarmed over the past few days’ messages: A joint statement published on Monday called on legislators to begin the floor debate on the bill.

The statement, signed by Blockchain Association’s outgoing CEO Kristin Smith, Crypto Council for Innovation’s acting CEO JI Kim and Digital Chamber’s new CEO Cody Carbone, said a real legislative framework would support stablecoin -admission and “dollar dominance in the digital economy.”

“We are urging respectful the senators to vote yes about the proposal to continue to consider the genius law and move one step closer to adopting a top -species frame frame,” the statement states.

Another lobbying organization, the National Venture Capital Association, is also weighed in with a statement attributed to CEO Bobby Franklin, who asked the Senate to move the StableCoin Law proposal forward.

“American leadership in the digital economy depends on establishing a clear and consistent legislative framework for stablecoins that promote innovation, provides entrepreneurs and helps to build the next generation of financial technologies,” the statement states. “A strong stableecoin framework will also support the venture capital industry’s efforts to support pioneering companies and strengthen America’s global economic technology management.”

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