Senator Cynthia Lummis (R-WY) slammed an amendment proposed by fellow Senator Jeff Merkley (D-OR) on June 30 that would ban elected officials from offering or promoting digital assets. Senator Cynthia Lummis Airs Crypto Amendment Concerns Speaking on Capitol Hill on Monday, Lummis claimed that Merkley’s proposed amendment “goes too far” when it comes to legislating the blockchain sector . Ranking Member @SenJeffMerkley offers an amendment to prohibit ALL federal government officials from promoting or offering cryptocurrency. — Senate Budget Committee (@SenateBudget) June 30, 2025 “I appreciate their concerns about ethics and transparency in government, but this amendment would inflict serious harm on American innovation and competitiveness,” Lummis said. “And for that matter, it applies to the adult children directly or indirectly of elected and non-elected officials.” I appreciate my colleagues' concerns about ethics, but @SenWarren and @SenJeffMerkley ’s amendment would seriously harm American innovation and competitiveness. If we are serious about ethics, let’s ensure digital assets receive the same treatment as other financial assets. pic.twitter.com/t4GsV04f7x — Senator Cynthia Lummis (@SenLummis) June 30, 2025 “If we had passed something like this in the early days of the internet, we would’ve sent a clear message that America’s closed for business when it comes to digital innovation, and that’s what we risk doing now,” she added. Lummis further indicated that Merkley’s amendment would be misguided and called for broader ethics reform across the financial services industry as a whole. “The irony is this amendment would actually harm our government’s ability to understand and regulate digital assets effectively,” Lummis continued. “If we’re serious about ethics and financial products, let’s focus on real solutions and all financial products – not just digital.” President Donald Trump Under Scrutiny For Digital Asset Ties According to a June 30 X post from Merkley, the amendment would have prevented elected officials from “corrupting” their public position via the sale of cryptocurrencies . Republicans BLOCKED my amendment to end crypto corruption. They’re more interested in protecting the Trump family crypto scam than doing right by the American people. pic.twitter.com/ls2FRQBL41 — Senator Jeff Merkley (@SenJeffMerkley) June 30, 2025 “Every now and then a new strategy creates either the appearance of a conflict of interest or a real conflict of interest and that is the case with the elected officials promoting or selling crypto coins in which they have a personal financial stake,” Merkley said. However, Republican senators have since shot down Merkley’s proposed amendment. Current U.S. President Donald Trump has been under scrutiny for his ties to the world of cryptocurrencies, particularly in regard to his namesake memecoin, $TRUMP. However, with the Republican party possessing a fully unified government, it may be tough for Trump’s political opponents to successfully legislate against Trump’s affiliated crypto ventures.Senator Cynthia Lummis (R-WY) slammed an amendment proposed by fellow Senator Jeff Merkley (D-OR) on June 30 that would ban elected officials from offering or promoting digital assets. Senator Cynthia Lummis Airs Crypto Amendment Concerns Speaking on Capitol Hill on Monday, Lummis claimed that Merkley’s proposed amendment “goes too far” when it comes to legislating the blockchain sector . Ranking Member @SenJeffMerkley offers an amendment to prohibit ALL federal government officials from promoting or offering cryptocurrency. — Senate Budget Committee (@SenateBudget) June 30, 2025 “I appreciate their concerns about ethics and transparency in government, but this amendment would inflict serious harm on American innovation and competitiveness,” Lummis said. “And for that matter, it applies to the adult children directly or indirectly of elected and non-elected officials.” I appreciate my colleagues' concerns about ethics, but @SenWarren and @SenJeffMerkley ’s amendment would seriously harm American innovation and competitiveness. If we are serious about ethics, let’s ensure digital assets receive the same treatment as other financial assets. pic.twitter.com/t4GsV04f7x — Senator Cynthia Lummis (@SenLummis) June 30, 2025 “If we had passed something like this in the early days of the internet, we would’ve sent a clear message that America’s closed for business when it comes to digital innovation, and that’s what we risk doing now,” she added. Lummis further indicated that Merkley’s amendment would be misguided and called for broader ethics reform across the financial services industry as a whole. “The irony is this amendment would actually harm our government’s ability to understand and regulate digital assets effectively,” Lummis continued. “If we’re serious about ethics and financial products, let’s focus on real solutions and all financial products – not just digital.” President Donald Trump Under Scrutiny For Digital Asset Ties According to a June 30 X post from Merkley, the amendment would have prevented elected officials from “corrupting” their public position via the sale of cryptocurrencies . Republicans BLOCKED my amendment to end crypto corruption. They’re more interested in protecting the Trump family crypto scam than doing right by the American people. pic.twitter.com/ls2FRQBL41 — Senator Jeff Merkley (@SenJeffMerkley) June 30, 2025 “Every now and then a new strategy creates either the appearance of a conflict of interest or a real conflict of interest and that is the case with the elected officials promoting or selling crypto coins in which they have a personal financial stake,” Merkley said. However, Republican senators have since shot down Merkley’s proposed amendment. Current U.S. President Donald Trump has been under scrutiny for his ties to the world of cryptocurrencies, particularly in regard to his namesake memecoin, $TRUMP. However, with the Republican party possessing a fully unified government, it may be tough for Trump’s political opponents to successfully legislate against Trump’s affiliated crypto ventures.

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more