Senate Crypto Regulation Vote Hangs on Ethics Safeguards

The US Senate is set to vote on a framework for cryptocurrency regulation, a move that could have significant implications for the $2.3 trillion market.

The legislation aims to give crypto firms legal certainty and protect consumers by creating regulatory requirements and guardrails to prevent bad actors and market collapses.

However, Democrats have vowed to block the bill unless it includes strong ethics safeguards to prevent President Donald Trump's family from profiting off their investments in cryptocurrency.

Trump has amassed significant crypto wealth since taking office, including a controlling stake in World Liberty Financial, a crypto firm co-founded with his special envoy Steve Witkoff. The president reported over $500 million in revenue from the company's sales of crypto products last year.