US Democratic Senators are pushing forward with proposals aimed at establishing ethical standards in the crypto market. Their latest amendments target potential conflicts of interest arising from officials benefiting from dealings in the crypto sector.

The amendments were submitted just prior to the Senate Agriculture Committee’s markup scheduled for the upcoming Tuesday, which aims to clarify federal regulations concerning digital assets. One significant amendment includes Senator Michael Bennet suggesting the incorporation of the Digital Asset Ethics Act to avert conflicts of interest for US officials engaging with the crypto market.

Concerns have also been voiced by Senator Elizabeth Warren and others regarding former President Donald Trump’s alleged conflicts linked to the crypto space, particularly his connections with the World Liberty Financial platform, which purportedly enhanced his wealth.

Additionally, Senator Amy Klobuchar is advocating for a delay in the legislation’s enactment until the Commodity Futures Trading Commission can appoint a full panel of commissioners, currently led by Chair Michael Selig.

Senators Roger Marshall, Dick Durbin, and Peter Welch have also proposed amendments concerning the Credit Card Competition Act, which seeks to curb exclusivity among credit card networks.

The upcoming markup has already faced rescheduling due to disputes surrounding stablecoin regulations, and recent weather forecasts indicate another possible delay.

Crypto Legislation Source: Eleanor Terrett