House Republicans unveiled a discussion draft of a market structure bill but all eyes this week were on the Senate, where a largely bipartisan effort to advance stablecoin legislation ran up against a wall.

Senate Democrats have blocked legislation to regulate stablecoins, a form of cryptocurrency, after arguing that the bill needed stronger protections and airing concerns that it could help President Donald Trump enrich himself.

Democrats turned against a Senate stablecoin bill Thursday that some had supported in committee, leaving it short of votes needed to advance.