Senate Democrats Say They Want a Crypto Bill—But Republicans Tanked Negotiations
Senate Agriculture Committee Democrats expressed commitment to passing a crypto market structure bill but blamed Republicans and the Trump White House for derailing bipartisan efforts by advancing a GOP-only draft. The bill passed the committee on a party-line vote, with all 12 Republicans in favor and all 11 Democrats opposed, casting doubt on final passage due to the lack of bipartisan support. Democrats, led by Sen. Cory Booker, said ongoing negotiations over DeFi and ethics provisions were ignored in the GOP draft, blaming the partisan shift on Trump’s involvement in crypto and the White House's opposition to ethics restrictions. Key Democrats stated that language banning the president and their family from engaging in crypto is essential for their support, emphasizing the need for stricter ethics rules to gain bipartisan backing. Despite Committee Chair Sen. John Boozman’s claim that future amendments could address concerns, Republicans blocked Democratic amendments, including ethics provisions.
