Senator: Without moral provisions, the Senate will not pass the crypto legislation.

ME News Report, May 7 (UTC+8), Senator Kirsten Gillibrand stated at the Consensus Conference that if the cryptocurrency market structure legislation does not include ethical provisions, the bill will not pass voting. Gillibrand pointed out that it is necessary to prohibit members of Congress, government officials, and the President and Vice President from profiting from their internal positions in the crypto industry. Currently, several Democratic senators are concerned about the crypto connections of U.S. President Trump and his family, with Bloomberg estimating that Trump has profited at least $1.4 billion through crypto venture investments. The bill was previously blocked in the Senate over issues related to stablecoin reward handling, but a compromise has now been reached, though ethical clauses have become a new obstacle. Gillibrand said she is working with the White House and both parties to ensure these provisions are included, and is pushing to add consumer protection and anti-terror financing clauses, with the bill expected to pass before the August recess. (Source: ODaily)