Time is running out for the bill, which aims to establish a broad federal framework for the cryptocurrency industry. Senate Majority Leader John Thune has not initiated the procedural vote required before the Senate begins its month-long August recess, increasing uncertainty over the legislation’s future.
Democratic senators are demanding agreements on ethics rules, measures against illicit finance and disputes involving the text prepared by the Agriculture Committee. Trump’s meme coin project, his family’s connections to the World Liberty Financial platform and the millions of dollars he reportedly earned from the venture have become central issues in the negotiations.
Democrats have rejected a proposed ethics compromise because it does not cover Trump’s family members and would expire in 2029. Unless lawmakers secure the 60 votes required to advance the bill, the vote could be postponed until September, potentially leaving the landmark regulation overshadowed by the November elections.
