Senate Democrats have blocked legislation to regulate stablecoins, a form of cryptocurrency, after arguing that the bill needed stronger protections and airing concerns that it could help President Donald Trump enrich himself.

Many of the potential issues we see with the Trump family’s crypto practices are a feature — not a bug — of the crypto industry.”

The vote to invoke cloture on the Senate's stablecoin bill failed 48-49, delaying the final passage of the crypto legislation.