After months of deliberations, Republicans released the latest text for broader cryptocurrency legislation — sending it to a potential full Senate vote as soon as next week.
The 616-page bill, obtained by The Block, is a product of combining both the Senate Agriculture Committee and Senate Banking Committee versions that passed out of those panels over the past year.
The new text addresses a key sticking point over the past few months — how to limit presidents, vice presidents, members of Congress and other federal officials from profiting from digital assets while in office. Ethics has been the final hurdle, after many, in getting sweeping crypto legislation, called the Clarity Act, passed into law.
At the center of the ethics issue has been Trump’s memecoins and his family’s company, World Liberty Financial. Financial disclosures released last month showed that Trump received millions of dollars tied to WLF, intensifying debate over ethics safeguards.
The latest text includes a section on ethics at the very end of the bill that would block a public official or employee, as well as their spouses, from issuing or sponsoring digital assets. The language says that they can still invest in digital assets.
