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The legislation has passed, it's time to make it happen
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With as little as those guys work, 30 hours could be several weeks. LOL
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Is this accurate? Here’s what’s inside:
- Backed 1:1 by cash or Treasuries
- Strict AML & bankruptcy rules
- Bans Big Tech from issuing stablecoins
- States can regulate small issuers
-No yield-bearing stablecoins allowed
The senate just passed a cloture vote (procedural vote to end debate on a bill and move it toward a final vote)
Next the Senate will proceed to a final debate and actually vote on the bill
once passed, it’s moved to the house!
It's official! The outcome was announced! Cloture officially passed!
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It will be much smoother to drive Warren out of the meeting
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Not sure how much clout being anti-stablecoin is going to get. Thought democrats learned their lesson 🙄
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Hello ser. Please send me a DM with your wallet address and I will look into it for you.
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https://x.com/EleanorTerrett/status/1924644487780815139
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I don't think there's a date yet? But the remaining debate is limited to 30 hours.
From perplexity:
After the Senate successfully invokes cloture by the required majority (typically three-fifths, or 60 Senators), several key procedural steps occur:
- Limited Debate: Debate on the measure, motion, or other matter is limited to no more than 30 additional hours. During this time, each Senator may speak for up to one hour, and time may be yielded to floor managers or leaders, but no manager or leader may control more than two hours yielded by others.
- Amendment Restrictions: Only amendments that were submitted before cloture was invoked may be considered, and all amendments must be germane (relevant to the subject of the measure).
- No Dilatory Tactics: Dilatory motions and quorum calls are not in order, further preventing delay.
- Final Disposition: Once the 30 hours of post-cloture debate expire (or if Senators yield back their debate time sooner), the Senate proceeds to vote on any pending amendments and then on the final disposition of the measure, motion, or nomination. No further debate is allowed at this stage.
In summary, after a cloture vote passes, the Senate is required to conclude debate and move to a final vote on the matter within a maximum of 30 hours, with strict limits on further amendments and debate.
when is the formal vote on the bill is it up in the air or fixed?
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In case anyone else is curious...
"A senator is allowed to change their vote at any time while the vote is still open and before the result is announced by the presiding officer"
The frax community has paid unprecedented attention to a major event😆
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Being able to change your vote is making this very stressful
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Sometimes little details are important, hope for the best
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another vote where they need 60 so its more like a temp check
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Is there any technical support staff from the Frax team in the group? I encountered the problem that the withdrawal of FXS from Fraxtal to ETH did not arrive in my account. Thank you very much
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