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Sohrab Khawas
Sohrab Khawas
Author
Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
Reviewed by:
Qadir AK
Reviewed
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jul 01, 2025 08:25 UTC
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Crypto Clash in Congress: Senate Kills Bill Barring Politicians From Profiting on Crypto
Senator Jeff Merkley’s crypto ethics amendment fails 53–47, aiming to block officials from promoting tokens they financially benefit from.
Senator Cynthia Lummis opposes the amendment, warning it could harm U.S. innovation; Merkley vows to keep fighting crypto corruption in politics.
US Senator Jeff Merkley, a Democrat from Oregon, recently introduced an amendment to the “Outlaw Big and Beautiful Bill” (OBBB) to prevent elected officials from promoting or profiting from cryptocurrencies in which they have a financial stake.
However, the approach did not go uncriticized as Senator Cynthia Lummis stood against it, saying it would inflict serious harm on American competitiveness, resulting in the failure of the amendment by a 47-53 vote.
The Outlaw Big and Beautiful Bill Amendment Failed in the Vote
Senator Merkley’s amendment to prohibit elected officials from promoting or profiting from cryptocurrency tokens in which they have a financial interest was narrowly rejected in a 53-47 vote by the opposition.
Republican Senator Cynthia Lummis from Wyoming argued against this OBBB proposal, saying it could stifle the nation’s innovation and competitiveness. She also flagged that this could challenge the federal government’s ability to effectively understand and regulate digital assets.
Why Jeff Merkley Amended the OBBB?
Merkeyley’s amendment seeks to establish clear guidelines for the behavior of public officials in relation to cryptocurrency, ensuring ethical procedures in the political framework. It raised concerns about potential conflicts of interest and misuse of public office for financial gain. He stated:
“The sale of crypto coins by any of us for the financial benefit is corrupting our responsibility to govern by and for the people.”
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Merkley’s Fight Against Corruption: Stricter Law for the GENIUS ACT
Merkley said passing the GENIUS ACT without strong anti-corruption measures will automatically mean that Congress approves President Trump’s access to the government’s power for personal profit. He added:
“I will keep fighting to ban Trump-style crypto corruption to prevent the sale of government policy by elected federal officials in Congress and the White House.”
Despite the defeat of the OBBB amendment, Merkley vowed to fight for ethical measures in political agendas.
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FAQs
The OBBB is a proposed bill that recently included a failed amendment aimed at banning crypto profiteering by public officials.
Merkley’s OBBB amendment sought to ban elected officials from promoting or profiting from cryptocurrencies they hold.
Merkley aims to stop “Trump-style crypto corruption” by tying the OBBB and GENIUS ACT to strong anti-corruption measures.
Yes 
No 
