The latest version of a sweeping crypto bill exposed a deep divide between progressives and moderate Senate Democrats: whether to accommodate the industry ahead of the fall midterms, or declare open war on it.
Seven Democrats issued a statement Wednesday night lamenting that they cannot vote for the latest draft of the bill, citing weak provisions aimed at tamping down Donald Trump’s crypto self-enrichment, among other issues. In a joint statement, they pledged to keep working with Republicans to “get this over the finish line.”
Other Democrats say they have had enough of crypto, however. The problems with the bill run much deeper than Trump’s corruption, Sen. Chris Murphy, D-Conn., said at a Wednesday speech, and it is time for Democrats to openly break with the industry and its $189 million in campaign funds.
“This bill is in front of the Senate because the industry paid for it,” Murphy said. “We should, in this election, make crypto’s purchase of our political process, AI’s purchase of our political process, a major campaign issue.”
“This bill is in front of the Senate because the industry paid for it.”
