Trump's Crypto Income Derails US Regulatory Framework
A comprehensive federal regulatory framework for the digital asset market was proposed in a 600-page document, but it failed to pass due to concerns over President Donald Trump's $1.4 billion crypto earnings in 2025.
The bill, which would have divided powers between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), was met with resistance from Democrats who demanded that senior officials divest themselves of crypto assets.
Republicans tabled over 100 amendments to address concerns, but opponents deemed them insufficient. The traditional banking lobby also expressed fears about a drain on deposits due to stablecoin programs.
Democratic Senator Elizabeth Warren criticized the bill, saying it would 'fuel Donald Trump's unprecedented corruption.'