Senate Democrats block crypto regulation bill
Senate Democrats voted 49-50 to block a procedural move that would have advanced an industry-backed bill to create a federal regulatory framework for the $2.3 trillion cryptocurrency market. Democrats opposed the measure mainly because they said it lacked strong ethics safeguards to prevent President Trump and his family from profiting while in office, despite concessions from Trump and GOP sponsors. The defeat means Congress may not act before the elections, the White House said agencies will now implement parts of its crypto agenda, and supporters warned U.S. leadership in digital asset rules could be ceded to other jurisdictions.
Senate blocked an industry-backed crypto regulation bill over presidential ethics concerns
Context
Lawmakers debated a bill to set rules for the $2.3 trillion crypto market. Democrats demanded stronger ethics limits because the president and his family made large crypto profits. If the bill cannot pass, agencies may act and Congress…
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