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Republican sponsors added new restrictions and a state-attorney-general role, but Warren argues that the structure would still let the executive branch decide whether those restrictions have practical force.
“A weak fig leaf that will do nothing to stop him from making his next $1.4 billion in crypto profits.”
– Sen. Elizabeth Warren, in an official Senate Banking Committee statementWhat Republicans changed
Republican sponsors say the final text responds to Democratic demands for stronger conflict-of-interest rules. Under the sponsors’ summary of the revised package, the ethics section would:
- Give state attorneys general an enforcement role involving covered officials who issue or sponsor digital assets, or maintain significant financial interests in them.
- Require covered people to divest certain significant interests or place them in a qualified blind trust.
- Set civil penalties at 20% of the consideration ...
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