Senator Kirsten Gillibrand Says Crypto Bill Needs Ethics Provision

Sen. Kirsten Gillibrand said a crypto market structure bill needs ethics rules barring lawmakers, senior officials, and the president and vice president from profiting from insider status, and said it could pass before the August recess.

Summary

Sen. Kirsten Gillibrand said a crypto market structure bill will not pass a Senate vote without ethics provisions. She said the legislation must prohibit lawmakers, senior officials, and the president and vice president from profiting from insider status in crypto. Gillibrand also said the bill could pass before the August recess, adding a potential timeline to the ongoing debate over digital asset legislation and ethics safeguards.

Terms & Concepts
  • Crypto market structure bill: Proposed legislation that would set rules for how digital asset markets are regulated, including oversight, trading, and industry conduct.
  • Ethics provisions: Legislative safeguards intended to prevent conflicts of interest, such as public officials using their positions for personal financial gain.
  • Insider status: A position that gives someone access to nonpublic or influential information that could be used for personal profit.