PANews reported on May 9th that, according to The Block, the chances of comprehensive crypto legislation moving forward have significantly increased after Senators Angela Alsobrooks and Thom Tillis reached a compromise on stablecoin rewards. Kristin Smith, president of the Solana Policy Institute, stated that she previously estimated the bill's passage probability at around 20% to 30%, which rose to 40% two weeks ago and is now approaching 60%. Cody Carbone, CEO of the Chamber of Digital Commerce, said that the resolution of the stablecoin issue "completely changed the atmosphere," paving the way for the bill to pass the Senate and be sent to the president.
However, the ethics clause became the final major hurdle. Senator Kirsten Gillibrand made it clear that she would not support the bill without it. Democrats had previously refused to support it in the Senate Agriculture Committee due to Trump's crypto interests. Bloomberg estimates that Trump has profited at least $1.4 billion from the crypto business. Smith of the Solana Institute for Policy Studies believes that the inclusion of the ethics clause could garner as many as 70 votes in the Senate. Furthermore, issues regarding CFTC resources and DeFi-related provisions still require further coordination.




