Crypto market structure bill nears key Senate test after ethics deal: Report

Two senators from opposite sides of the aisle just finished rewriting one of the most politically sensitive sections of the biggest crypto bill in Congress. Now they need their colleagues to actually read it before everyone leaves town. Senators Thom Tillis (R-NC) and Ruben Gallego (D-AZ) finalized their bipartisan revision to the conflict-of-interest provisions in the Digital Asset Market Clarity Act on July 29, tightening restrictions on senior federal officials’ involvement with digital assets. The problem: most legislators haven’t reviewed the new language, and the Senate’s August recess is bearing down like a deadline nobody studied for. What changed and why it matters The Tillis-Gallego revision is essentially a counteroffer to a White House-backed ethics proposal released on July 22. That earlier version drew sharp criticism from Democrats who called it inadequate, particularly over a 2029 sunset clause that would have let the restrictions expire. The revised language, while not yet publicly available, is designed to impose stricter limits on how federal officials can interact with digital asset issuance. The underlying bill itself has broad goals: splitting regulatory autho...