Overview
- Senator Thom Tillis said he will vote against the Senate crypto bill unless it includes written limits on White House and senior officials’ crypto activity, a demand analysts say could reach Trump-linked ventures.
- Democratic Senators Ruben Gallego and Adam Schiff said the bill cannot move without a bipartisan ethics deal, and negotiators said they have narrowed some differences after months of talks.
- The draft would split crypto oversight between the Commodity Futures Trading Commission and the Securities and Exchange Commission, building on the House-passed CLARITY Act.
- Talks still face disputes over interest-like yields on stablecoins, funding and staffing for the CFTC, and clear lines for enforcement.
- Senator Cynthia Lummis said she is working to keep protections for non-custodial software developers intact while preserving tools to pursue criminal actors.