Odaily News U.S. Senate Democrats have blocked stablecoin legislation backed by the digital asset industry, as Trump's extensive and growing cryptocurrency portfolio has caused an uproar. Supporters of the bill fell short of the required 60 votes in a 49-48 vote on Thursday. The two sides could still reach an agreement in the coming weeks, with many Democrats saying stablecoin regulation is essential to protecting consumers and providing rules for this emerging industry. Trump has recently been promoting the TRUMP coin named after him, and token sales have surged after the token organizers launched a marketing campaign that "the largest holders can have dinner with the president." Democratic Senator Warren and other lawmakers have called such measures blatantly corrupt.