US Lawmakers Demand Ethics Safeguards for Market Structure Bill: Report
Democratic lawmakers are demanding ethics safeguards, including prohibitions on public officials profiting from crypto, for the Republican-led market structure bill.Summary
Democratic leaders in the US Senate, including Adam Schiff and Ruben Gallego, are reportedly demanding strict conflict-of-interest guardrails be added to the Republican-led Responsible Financial Innovation Act (RFIA), a crypto market structure bill. Gallego stated that these ethics safeguards, which would prohibit public officials like President Donald Trump from profiting from crypto company connections, are a "red line" necessary for the bill's passage. The bill, previously passed by the House as the CLARITY Act, has been under Senate consideration since July and faced delays. Drafts suggest the RFIA could grant the CFTC more authority over digital assets. Meanwhile, Senator Cynthia Lummis, a key supporter of the legislation, announced she will not seek re-election in 2026.
(Source：Cointelegraph)