WASHINGTON — A crypto bill cleared a key Senate hurdle on Monday as a group of Democrats got back on board with the legislation after balking over President Donald Trump’s digital asset self-enrichment schemes.
The Senate voted 66-32 to proceed to the legislation, with 16 Democrats in favor and two Republicans against.
By helping Republicans pass the legislation, the 16 Senate Democrats are doing a big favor for a little-respected industry that poured money into last year’s elections and is now threatening to oust lawmakers who get in its way.
The bill had been set to pass earlier this month but Democrats voted no as Sen. Elizabeth Warren (D-Mass.) raised alarms about Trump’s ethically dubious plans to host a private dinner for the biggest buyers of his meme coin.
Now the bill is back, with modest changes, but it still contains no ban on Trump selling crypto from the White House. Sen. Mark Warner (D-Va.), one of the lead negotiators on the recent changes, signaled earlier on Monday it was the best they could do.
