Crypto bill won't move without a ban on officials' industry ties, says U.S. Senator Gillibrand
Key takeaways
- Senator Gillibrand The Democratic lawmaker has been a negotiator for the Clarity Act, and one of the final sticking points is the crypto constraint on officials, including the president.
- "There will be no one voting for this bill if we don't have an ethics provision," Gillibrand, a New York Democrat who has been engaged in bipartisan crypto legislation for years, said Wednesday at Consensus Miami 2026.
- "We cannot allow members of Congress, senior administration officials, presidents or vice presidents to get rich off of these industries because of their insider status," Gillibrand said.
Senator Gillibrand The Democratic lawmaker has been a negotiator for the Clarity Act, and one of the final sticking points is the crypto constraint on officials, including the president. By Jesse Hamilton|Edited by Jamie Crawley Updated May 6, 2026, 5:11 p.m. Published May 6, 2026, 5:08 p.m. 2 min read Make preferred on U.S. Senator Kirsten Gillibrand speaking at Consensus Miami 2026 (CoinDesk)What to know: U.S. Senator Kirsten Gillibrand said the Clarity Act can't advance from the Senate without an ethics provision banning crypto ties for senior government officials.The effort was largely aimed at the business interests of President Donald Trump, and Democrats have insisted that the market structure bill needs an explicit limit, which remains one of the sticking points for the negotiation.MIAMI, FL — The long-awaited legislation to establish U.S. regulations for the crypto markets won't survive the Senate if it doesn't include a contentious ethics provision that bans senior government officials from personal interests in the industry, said U.S. Senator Kirsten Gillibrand.
"There will be no one voting for this bill if we don't have an ethics provision," Gillibrand, a New York Democrat who has been engaged in bipartisan crypto legislation for years, said Wednesday at Consensus Miami 2026. The inclusion of that section — aimed largely at the business interests of President Donald Trump — remains one of the few major sticking points on the bill negotiation, which is coming to a head this month.
"We cannot allow members of Congress, senior administration officials, presidents or vice presidents to get rich off of these industries because of their insider status," Gillibrand said. "It is the worst form of pay-for-play; it is the worst form of campaign finance violations; it's a violation of the Constitution."