Internet reports that U.S. Senate Democrats have blocked stablecoin legislation backed by the digital asset industry, and Trump's extensive and growing cryptocurrency portfolio has caused a stir. Supporters of the bill failed to reach the required 60 votes in Thursday's vote by a 49 - 48 vote. A deal is still likely to be reached in the coming weeks, with many Democrats saying stablecoin regulation crucial to protecting consumers and providing rules for the emerging industry. Trump has recently vigorously promoted the TRUMP coin named after him. After the token organizer launched a marketing campaign that "those with the largest holdings can have dinner with the president." Token sales surged. Democratic Senator Warren and other members called such measures obvious corruption.