Democratic senators have expressed objections to the stablecoin bill, calling for further modifications to address issues related to AML, foreign issuers, and other contentious points. The bill requires 60 votes to pass, and currently, the Republican Party holds only 53 seats, necessitating consensus between the Democratic and Republican parties to move forward. The bill mandates that stablecoins be backed by 100% reserves and require monthly disclosures of reserve statuses, as well as annual audits for issuers with market capitalizations exceeding $50 billion. Provisions regarding national security and law enforcement also need to be included in the bill, but the Democratic Party has expressed concerns about this.