A bipartisan alliance backing stablecoin legislation shattered in the US Senate as a key group of Democrats threatened to block a bill that Republicans had hoped to pass this month — unless “numerous” fixes are made.

The outlook for a Senate stablecoins bill dims after four Democrats who backed the measure in committee withdraw support.

Senate leaders are working to lock down support for bipartisan cryptocurrency legislation as Republicans begin to complain about last-minute changes being negotiated with the Democrats. Sen. Cynthia Lummis (R-WY),