Sen. Gillibrand: No crypto bill without ethics provision amid President Trump’s ties through memecoins, World Liberty
There will be no deal without an ethics provision in sweeping cryptocurrency market structure legislation, warned Sen. Kirsten Gillibrand.
Sen. Kirsten Gillibrand has declared that comprehensive cryptocurrency market structure legislation will not advance without robust ethics provisions, citing concerns over President Trump's financial ties to the digital asset sector. The New York Democrat specifically referenced Trump's connections through memecoins and the World Liberty project as reasons for demanding stricter ethical safeguards in any forthcoming crypto bill.
Gillibrand's stance comes as Congress continues working on bipartisan cryptocurrency legislation aimed at establishing clear regulatory frameworks for digital assets. The senator has been a key figure in crypto policy discussions, previously co-sponsoring the Responsible Financial Innovation Act with Sen. Cynthia Lummis. Her latest comments suggest that Trump's business interests in the crypto space have become a significant factor in legislative negotiations.
The ethics provision requirement could potentially complicate efforts to pass crypto legislation, as lawmakers must now balance market structure concerns with conflict-of-interest considerations. Industry observers note that any delays in comprehensive crypto regulation could impact market confidence and regulatory clarity that businesses have been seeking. The demand for ethics provisions reflects broader concerns about how political figures' financial interests might influence cryptocurrency policy decisions.
Market participants will be watching closely to see how other lawmakers respond to Gillibrand's position and whether compromise language can be developed that addresses both regulatory structure needs and ethical concerns.
Source: The Block
