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Senate Republicans Circulate 616-Page Crypto Bill; Democrats Reject DOJ-Only Ethics Enforcement on July 22

Regulation & Policy

2026-07-23 13:55:52

According to Senate Republicans, on July 22 they circulated a revised 616-page Crypto Bill draft that includes a White House-backed ethics provision, but no Democrat has publicly endorsed the latest text. The central disagreement concerns enforcement: Democrats have repeatedly sought to give state attorneys general independent authority to enforce ethics provisions, while the Republican draft reserves enforcement solely to the U.S. attorney general. Sen. Angela Alsobrooks (D, Md.), who has participated in negotiations, said this week that enforcement limited to the Department of Justice is "an unserious offer." Senate Majority Leader John Thune said he wants to advance the bill to the Senate floor before the August recess, although it remains unclear whether Republicans can secure the 60 votes needed.

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