Crypto Clash in Congress: Senate Kills Bill Barring Politicians From Profiting on Crypto
2025-07-01 08:42:09
Main Idea
US Senator Jeff Merkley's amendment to the 'Outlaw Big and Beautiful Bill' (OBBB) aimed at preventing corruption failed in a 47-53 vote, with opposition led by Senator Cynthia Lummis.
Key Points
1. Senator Jeff Merkley introduced an amendment to the OBBB to address corruption concerns, but it was defeated in a 47-53 vote.
2. Republican Senator Cynthia Lummis from Wyoming opposed the amendment, leading to its failure.
3. Merkley argued that passing the GENIUS ACT without strong anti-corruption measures would allow misuse of government power for personal profit.
4. Despite the amendment's defeat, Merkley vowed to continue fighting for ethical governance and against 'Trump-style crypto corruption.'
Description
The post Crypto Clash in Congress: Senate Kills Bill Barring Politicians From Profiting on Crypto appeared first on Coinpedia Fintech News US Senator Jeff Merkley, a Democrat from Oregon, recently introduced an amendment to the “Outlaw Big and Beautiful Bill” ( OBBB ) to prevent elected officials from promoting or profiting from cryptocurrencies in which they have a financial stake. However, the approach did not go uncriticized as Senator Cynthia Lummis stood against it, saying it would inflict ...
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