Sen. Tillis Won’t Back Crypto Bill Without Ethics Provision

Republican Senator Thom Tillis has stated he will not support the Senate's cryptocurrency market structure bill without the inclusion of ethics provisions. These provisions would limit how White House officials can engage with crypto. Tillis, a senior member of the Senate Banking Committee, indicated that if the ethics language is not added, he will vote against the bill. Democratic Senator Ruben Gallego confirmed that bipartisan agreement on the ethics provision is necessary for the bill's advancement. The bill, which divides crypto regulation between the CFTC and SEC, has faced delays due to debates over ethics and stablecoin yield payments. Democrats have expressed concerns about potential conflicts of interest related to the Trump family's crypto businesses and are seeking to include a ban on federal employees, including the president, from sponsoring or endorsing digital assets. While talks on the ethics provisions are reportedly progressing, the specific language remains unclear.

(Source：Cointelegraph)