Senate Blocks Crypto Regulation Bill Amid Ethics Concerns

Senator Elizabeth Warren voiced her opposition to a bill aimed at regulating cryptocurrency, saying it would allow President Donald Trump 'to rake in billions of dollars in crypto profits while working families across this country struggle.'

The bill, which had been backed by the $2.3 trillion cryptocurrency market, was blocked in a 49-50 vote.

Warren and other Democrats were adamant that the bill include strong ethics safeguards to prevent Trump from enriching himself through his investments in crypto while in office.

Trump agreed to some concessions on ethics, including new restrictions on federal elected officials from issuing digital assets like the presidential meme coins he and his wife launched before his second term.