Senate Votes Loom on Controversial Crypto Bill Tied to Trump Profits

The Digital Asset Market Clarity Act is set to face a key vote in the US Senate on Tuesday, which could potentially advance the bill despite concerns it may enable President Donald Trump's self-enrichment through cryptocurrency.

Sen. Elizabeth Warren (D-Mass.), the top Democrat on the Senate Banking Committee, warned that this bill would help to 'turbocharge' President Trump's 'crypto corruption.'

The bill establishes what would be considered the first federal regulatory framework for cryptocurrency, with fewer disclosure requirements and investor protections than traditional securities.

Sen. Kirsten Gillibrand (D-NY), one of Congress’ biggest crypto supporters, is privately urging others in her party to back the legislation and break the filibuster.