Crypto Clash in Congress: Senate Rejects Amendment to Bar Politicians From Crypto Profits

The U.S. Senate narrowly rejected an amendment to the 'Outlaw Big and Beautiful Bill' (OBBB) that sought to prohibit elected officials from promoting or profiting from cryptocurrencies in which they hold financial stakes. The proposal, introduced by Senator Jeff Merkley (D-OR), failed in a 53-47 vote after opposition from Senator Cynthia Lummis (R-WY), who argued it WOULD harm American competitiveness and hinder regulatory clarity for digital assets.

Merkley's amendment aimed to address ethical concerns around conflicts of interest, stating public officials should not leverage their positions for crypto-related financial gain. 'The sale of crypto coins by any of us—' he began, before the amendment was struck down. Lummis countered that such restrictions could stifle innovation and complicate federal efforts to understand and regulate the asset class.

The debate underscores growing tensions between crypto accountability and legislative support for the industry. With no direct mentions of specific coins or exchanges, the outcome leaves the door open for continued political engagement with digital assets—a win for proponents of regulatory flexibility.