U.S. Senator Gillibrand Demands Ethics Ban for Government Officials in Crypto Bill
The U.S. Congress is advancing the CLARITY Act to establish a market structure for crypto assets and divide regulatory responsibilities. Democrats warn that the bill could create conflicts of interest unless it restricts senior government officials and elected officials from holding industry interests. The dispute includes President Donald Trump’s crypto ventures and profits from memecoins.
Senator Kirsten Gillibrand recently said the bill cannot advance in the Senate without an ethics ban covering officials. Democrats have also proposed barring elected officials from issuing memecoins, citing the reported $636 million in profits obtained by Trump. The White House plans to advance the bill in June, with a vote possible as early as August.
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The history behind this eventUS Senator Tillis Demands Ethics Provision Before Backing Crypto Bill
The US Congress is advancing crypto-asset market structure legislation centered on dividing regulatory authority between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The House passed the CLARITY Act in July 2025, but the Senate version remains stalled over stablecoin yield, developer protections and conflicts of interest involving government officials.
On April 27, 2026, Republican Senator Thom Tillis said he would vote against the bill unless it included ethics provisions restricting White House officials from using or promoting digital assets before it leaves the Senate. Democratic Senator Ruben Gallego likewise said there would be no final bill without a bipartisan ethics agreement. Tillis also called on the Senate Banking Committee to schedule a markup after it reconvenes on May 11.
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