Senate crypto bill stalls as Tillis demands ethics limits on White House activity

The Senate crypto bill is stalling as Republican Sen. Thom Tillis threatens to block it unless it adds ethics limits on how White House officials can engage with digital assets. Tillis said he will withdraw support if the Senate advances the measure without the required language. Democrats, including Sen. Ruben Gallego, have tied progress to a bipartisan deal on the ethics wording, warning there is no final bill without agreement. The dispute also reflects growing conflict-of-interest concerns, including scrutiny of crypto ventures linked to former President Donald Trump and his family. Separately, the Senate crypto bill faces additional delay over stablecoin yield provisions. Tillis and Sen. Angela Alsobrooks are negotiating compromise text on whether firms can pay interest on idle stablecoin balances. Banking groups warn yield-bearing stablecoins could pull deposits from traditional institutions, while crypto firms such as Coinbase argue restrictions would limit growth. For traders, the key issue is regulatory timing risk. A stalled Senate crypto bill keeps US policy uncertainty elevated, which can raise volatility around expectations for CFTC/SEC oversight and stablecoin rules.