Senate crypto bill revisions gained momentum as lawmakers filed amendments targeting ethics and oversight concerns.
The changes arrive ahead of a scheduled markup session in the Senate Agriculture Committee next week.
US Democratic senators working on cryptocurrency market structure legislation submitted several amendments on Friday. The proposals aim to address conflicts of interest, market integrity, and regulatory readiness across digital asset markets.
Ethics provisions focus on senior officials and crypto ties
Several amendments target potential conflicts involving public officials who profit from digital assets. Senator Michael Bennet proposed adding a Digital Asset Ethics Act to the legislation.
The measure would restrict certain crypto-related transactions by senior officials. The list includes the President, Vice President, and members of Congress.
Democrats have raised concerns about President Trump and his family’s crypto involvement. Bloomberg estimates Trump’s crypto-related earnings at about $1.4 billion.
Those earnings link partly to World Liberty Financial, a DeFi and stablecoin venture. The Trump family also holds a 20% stake in the mining firm American Bitcoin.
Supporters argue that the ethics language could reduce political friction around the bill. Critics say the restrictions may overreach and complicate compliance for officials.
Kiosk fraud and regulator staffing draw added scrutiny
Lawmakers also proposed measures addressing fraud risks at digital asset kiosks. Senators cited rising reports of fake or misleading transactions.
Senator Amy Klobuchar submitted an amendment tied to regulatory staffing concerns. Her proposal would delay the bill until at least four CFTC commissioners are confirmed.
The CFTC currently operates with only one confirmed commissioner, Chair Michael Selig. Federal law limits the agency to five commissioners, with party balance rules.
Some lawmakers argue that limited staffing weakens enforcement and market oversight. Others warn delays could stall progress on clearer crypto rules.
The Agriculture Committee oversees the CFTC and will review these amendments. The markup session remains scheduled for Tuesday.
Bipartisan divide persists as leaders push forward
Republicans and Democrats remain divided on core policy questions within the bill. Senator John Boozman acknowledged unresolved differences but praised bipartisan cooperation.
He noted that Democratic support remains essential for passage. Senate approval requires 60 votes, meaning at least seven Democrats must back the measure.
Senator Kirsten Gillibrand expressed confidence that the legislation will advance. She said lawmakers have worked intensively on a bipartisan basis for six months.
Gillibrand highlighted two parallel bills under different committees. One falls under Agriculture oversight, while another sits with the Banking Committee.
The Banking Committee markup was delayed earlier this month after industry objections. Despite that setback, Gillibrand expects the Agriculture Committee process to proceed.
She urged senators to revisit earlier bipartisan compromises removed from later drafts. Gillibrand said those agreements could strengthen the final legislation.
The Senate crypto bill continues to evolve as amendments address ethics, fraud, and regulatory capacity. Lawmakers now face a critical test of bipartisan resolve as the markup approaches.
