Senate Democrat Blasts GOP Crypto Bill Ethics Rules as Inadequate

Senate Republicans this week released draft text for the Digital Asset Market Clarity Act, reigniting a fight over ethics rules for federal officials involved in digital assets. The proposal would stop all federal officials, including the president, from launching or backing digital asset ventures while in office.

Democratic Senator Ruben Gallego dismissed the language as inadequate, calling it “not a serious effort” after months of bipartisan negotiations. He argued the offer did not reflect the extensive work already done between both parties on the issue.

Republicans Defend the Draft

GOP lawmakers pushed back on claims the ethics rules are weak. Senator Bernie Moreno defended the language as unusually strong, arguing it represents some of the toughest ethics standards ever proposed in Congress.

Gallego said he plans to work with Senator Thom Tillis and other Republicans to draft a revised ethics counterproposal, signaling negotiations remain active despite the disagreement.