Why Did Some Democrats Vote No on Stablecoin Bill?

Proponents of this legislation say that it actually makes the stablecoin market safer. It requires that a stablecoin is backed dollar for dollar by high quality assets. Why do you not see that it works that way.Well, what you have is a system designed to be a payment system for those who want cryptocurrency. That is to say, hidden money. We already have money market funds.They're well regulated. They have assets behind them and they pay about a 4% return. This this genius act creates a new money market fund ...