Institutional opposition to the stablecoin bill collapsed due to strategic miscalculations about political alignments. Traditional finance players underestimated bipartisan support for clear crypto regulation amid election-year positioning. The bill’s consumer protection framing neutralized typical anti-crypto arguments.
Industry fragmentation also weakened resistance, with compliant exchanges like Coinbase supporting the bill while others lobbied against. This division allowed pragmatic legislators to craft compromises addressing national security concerns without stifling innovation.
The outcome signals declining influence of anti-crypto banking lobbies as digital assets gain electoral relevance. Future regulatory battles may shift toward implementation details rather than existential challenges.
