Tillis won’t support Senate crypto bill without ethics provision

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Thom Tillis, pictured at a meeting in 2024, says he won’t support a crypto bill without an ethics provision. Source: City of Greenville, North Carolina The bill carves up crypto regulation between the Commodity Futures Trading Commission and the Securities and Exchange Commission and has been plagued by delays as lawmakers and lobbyists seek to add provisions on ethics and stablecoin yield payments. Democratic lawmakers have heavily criticized the Trump family’s expanding crypto businesses and have sought to use the bill to crack down on a perceived conflict of interest. Related: Canada advances bill to ban crypto political donations Now, lawmakers are reportedly saying talks on the ethics provisions are moving forward, but it’s not clear what the language will be. “We’re making progress,” Democratic Senator Adam Schiff told Politico. “We have been talking for a long time without making much progress, and now that other parts of the bill are starting to come together, we’re narrowing our differences.” Schiff said earlier this year that Democrats want “a ban on sponsoring, endorsing or issuing digital assets that applies to all federal employees,” including the president, who has backed a memecoin and non-fungible tokens bearing his name and likeness. Magazine: Will the CLARITY Act be good — or bad — for DeFi?

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