Joey Cpelletti.

The crypto industry is seeing growing support from the Democratic Party, though it’s far from unanimous. A number of Democrats are supporting legislation in the Senate that would create a new regulatory structure for stablecoins, a type of cryptocurrency typically pegged to the U.S. dollar. But other Democrats are against the bill as they condemn Republican President Donald Trump’s efforts to profit from cryptocurrency while in office. Despite the tensions, the bill is expected to clear the Senate this month. The legislative push follows an election in which the crypto industry ranked among the top campaign spenders, pouring millions of dollars into tight Senate races.