Bill Hagerty
US Senator Toomey introduces stablecoin bill as congressional session wraps up
Republican Senator Pat Toomey, who is set to retire from U.S. Congress at the end of the term, has used one of his last few weeks in office to introduce a new stablecoin bill, aimed at creating a regulatory framework for “payment stablecoins.” Toomey — who also serves as the ranking member of the U.S. Banking Committee — said the Stablecoin TRUST Act of 2022 would serve as a framework for stablecoin regulation for his fellow senators, who are looking to pas stablecoin legislation in 2023. In a Dec. 21 statement, the senator called stablecoins an “exciting technological development that could transform money and payments,” adding: “By digitizing the U.S. dollar and making it available on a global, instant, and nearly cost-free basis, stablecoins could be widely used across the physical...
US election: Republicans hold back Democrats, narrowing path to Senate control
The battle for power in the Senate tightened into Wednesday as Democrats picked up a seat in Colorado, but suffered a setback in Alabama, and Republicans held their own in high-profile races in South Carolina, Iowa, Texas and Kansas, dramatically narrowing the political map. Republicans fought to retain their Senate majority by turning back a surge of Democrats challenging allies of President Donald Trump, and the Democrats’ various paths to seizing control were growing more limited. With several contests still too early to call, and one Georgia race heading to a January runoff, the final verdict is expected to drag on. Democrats gained a seat when ex-Gov. John Hickenlooper ousted GOP Sen. Cory Gardner in Colorado, a must-win to flip the Senate, but couldn’t hold on in Alabama, where forme...
