WASHINGTON - The Republican-led Senate is expected to vote on bipartisan crypto regulations on Thursday, but it is unclear whether enough Democrats will support it, as negotiations between the two parties are underway.

The Senate Banking Committee passed the Genius Act, which will create the first U.S. regulatory framework for issuers of Darresay in April, with digital tokens pegged to currencies and in April, with five Democrats supporting the legislation.

But, in Senate Majority Leader John Dunn (RD

Thun said Thursday that he is still in conversation with colleagues in Democracy regarding changes to the bill and hopes to know in the next few hours whether they have a vote.

"We're trying to see if there's a way forward that allows us to get any changes they want, and there are other changes because we already have a lot of what the statement has done, but at some point, they're going to have to take Yes," Thun told reporters Thursday.

Democrats are seeking clear rules unless they own or trade cryptocurrencies, members of the executive branch, including President Trump and his family, and stronger anti-corruption rules. The bill requires 60 votes to finally pass the Senate with a 53-47 majority.

On Wednesday morning, over an hour later, a group of crypto-focused senators were huddled in the office of bank committee chair Tim Scott.

This list includes the Sens of R-Tenn. BillHagerty; Cynthia Lummis of R-Wyo; Mark Warner, D-Va. Ruben Gallego, D-Ariz. Kirsten Gillibrand, dn.y. ;According to three sources familiar with the conference, Angela Alsobrooks of D-MD, D-MD. The group held another closed-door meeting Wednesday night, which lasted for several hours and had no consensus yet.

Hagerty led negotiations with Democrats who voted for the law on the committee but later evaded their support and cited in a statement “many issues that must be addressed, including for anti-money laundering, foreign issuers, national security, national security, ensuring the security of our financial systems and the security and responsibilities of those who do not comply with the bill.”

Meanwhile, Republicans received more than an hour of news on Wednesday from tech entrepreneur David Sacks, according to several senators who attended the briefing.

“Well, we had a great conversation yesterday,” the R-FLA, which supports the legislation. Senator Rick Scott said. "Everyone needs to understand that trading Bitcoin is completely different from Stablecoin." (Bitcoin does not fix Bitcoin on the Fiat currency like the US dollar.)

When asked if most members of Congress know what different digital assets are and how to use them, Ohio Sen. Jon Husted said with a smile.

"It's a good question. I can't speak for other people, I know I have to spend a lot of time myself to really understand this issue," he said. "There is no regulatory system at the moment. It's the wild west of the wild and we want to start realizing that we need to do some safety with it."

The shift in democracy-backed investment firms last month announced that they would invest billions of dollars in Trump’s home cryptocurrency (World Liberty Financial). News of the investment has sparked opposition from Senate Democrats who see the latest deal as "evidence" that the president is using his office to enrich himself. On Monday, Trump held a $1.5 million per-track fundraiser, focusing on high-profile crypto investors and tech entrepreneurs.

“It is incredible that the Trump administration has provided the UAE with a chance to have favors or obligations in exchange for their huge spending.” (Binance is a cryptocurrency exchange.)

Warren and Gillibrand signed Merkley legislation that would prohibit the president, lawmakers and their families from financially benefiting, issuing, endorsing or sponsoring cryptocurrency assets, including stablecoins. The End of Crypto Corruption Act targets cryptocurrencies directly targeting Trump and his family, including non-traditional cryptocurrency efforts such as Trump’s supper and private White House tour, for top investors in his meme coin (Trump $trump).

Senator Chris Murphy (D-Conn).

The anti-record efforts of Senate Democrats could fail in the Republican-controlled Senate. But, Senator John Kennedy (R-La.

The Genius Act can only regulate stabilizers without touching meme coins, a different type of cryptocurrency that takes value from internet culture rather than from basic utilities or assets. But supporters of the legislation believe the bill does have protections to protect money laundering and fraud.

According to two people familiar with the process, changes were made under Democrats’ requests, including preserving state regulators for stablers of foreign issuances and expanding monitoring and reporting of suspicious transactions for Stablecoin users.

According to Thune and a democratic aide involved in the process, the bill is expected to contain a provision that would prohibit elected officials from issuing stable.

"I know we can come up with a good bill. We just need to take the time to work with it," Gallego told reporters. "There is a lot of backlash between the committee's vote and the text that appears. I think we can get there, but the version currently exists is not something we negotiated before."

Thun insists that he is following a “regular order” and that further changes are likely to occur during the amendment process, a step that can only be unlocked if the senator offers 60 votes to advance the bill first. The House Financial Services Committee voted to pass a competition bill, the Stability Act, which will also provide a regulatory framework for Stablecoins last month.

If the Senate finally passes the bill, the House still needs to get it before heading to Trump’s desk for signature.

"When will the Democrats seek answers with certainty? If they have other suggestions and things they want to include in the draft, we certainly welcome you to study this and work with them, but we need to start moving forward," Thune said Tuesday.

Not only Senate Democrats turn the course: Some Republicans say they plan to vote against the Genius Act, including Senator Josh Hawley (R-Mo).

Senator Rand Paul, R-ky. Frequently deviating from his party, he said he planned to vote on legislation due to concerns about overregulation.

“I’m not a true loyalist in the federal regulations era, let alone starting a brand new plan for a brand new industry that exists, without federal regulations, it seems OK,” Paul told reporters Tuesday.