Lawmakers postpone vote on crypto market structure bill after failing to resolve ethics provisions tied to Trump-linked investments.
The Senate delayed a vote on the CLARITY crypto market structure bill, drawing criticism from industry leaders like Coinbase CEO Brian Armstrong. Bipartisan talks stalled over stricter ethics rules, particularly concerning US President Donald Trump’s crypto ventures, including World Liberty Financial and a memecoin launched before his term.
Progress had been reported on the bill, but Democrats pushed for additional provisions addressing conflicts of interest. Banking advocates also raised concerns, arguing the bill could allow stablecoin issuers to pay interest to holders, potentially disadvantaging smaller banks reliant on deposit interest.
Market reaction appeared muted, with Bitmine Chair Tom Lee noting investors were more focused on softer inflation and jobs data than the bill’s delay.