Senate Republicans Release Revised Crypto Bill Amid Democratic Opposition

A revised cryptocurrency regulatory framework bill has been released by Senate Republicans, but it still faces opposition from Democrats.

The bill combines previous versions approved by the Senate Banking Committee and the Senate Agriculture Committee, with an added ethics section to address potential conflicts of interest for public officials.

The ethics section would prohibit public officials, including the president, vice president, members of Congress, and federal judges, from issuing or sponsoring digital assets. The ban would be enforced by the U.S. attorney general and would sunset on January 20, 2029.

Democrats have expressed concerns about the bill's impact on law enforcement's ability to crack down on illicit finance, money laundering, and other malfeasance in digital markets.