TechFlow News, January 24: According to The Block, ahead of next week’s Senate Agriculture Committee hearing, debate, and vote on the cryptocurrency market structure bill, Democratic lawmakers have submitted several proposed amendments to the bill.
One amendment seeks to incorporate the “Digital Asset Ethics Act” into the bill. This amendment would prohibit “covered persons”—including the President, Vice President, and members of Congress—from engaging in certain financial transactions involving digital assets. Bloomberg previously estimated that Trump has profited approximately $1.4 billion from his cryptocurrency investments, including investments in DeFi and stablecoin project World Liberty Financial. The Trump family also holds a 20% stake in mining company American Bitcoin.
Other amendments include measures aimed at preventing “digital asset self-service terminals” from conducting fraudulent transactions; and a requirement to delay the effective date of future cryptocurrency legislation until at least four commissioners of the Commodity Futures Trading Commission (CFTC) have been appointed. As the CFTC currently has only one sitting commissioner—and its statutory maximum is five—this issue has been a focal point of debate among some legislators.
