finance
Senate leaders advance cryptocurrency bill without ethics restrictions
A cryptocurrency regulation bill is scheduled for a Senate floor vote in the coming weeks after nearly a year of negotiations. The measure lacks provisions restricting elected officials' involvement in the crypto industry.
Jul 13, 11:26 AM·1m read1 source
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A cryptocurrency regulation bill known as the Clarity Act is awaiting a Senate floor vote after nearly a year of negotiations in the chamber. The bill is expected to reach the floor in the coming weeks.
The lawmaker pointed to recent public opinion polling indicating greater public concern over affordability issues tied to economic policy. The same lawmaker stated that the bill contains significant flaws related to national security, financial stability, consumer protection, and ethics.
Several sticking points remain between Republicans and a group of crypto-friendly Democrats negotiating the measure.
The largest remaining hurdle involves Democratic efforts to add an ethics provision restricting elected officials' involvement in the crypto industry. The lawmaker said those concerns have grown more pressing following the president's 2025 financial disclosure. The disclosure showed the president made about $1.2 billion in crypto-related income last year.
The lawmaker said the legislation heading to the Senate floor must prevent the president, vice president, senior administration officials, members of Congress, and their families from profiting from the crypto industry.
