Some Democrats who had supported legislation for so-called stablecoins are now demanding tougher language to prevent fraud and money laundering.

Efforts to pass crypto legislation in the US Senate face mounting resistance amid growing ethical concerns around US President Donald Trump’s ties to crypto. In a May 5 letter to the Office of Government Ethics,

Democratic Senator Chris Murphy pushed a bill to block presidential coins while Elizabeth Warren described how to get Dems to move forward on stablecoins.