US Democratic Senators introduced amendments to address conflicts of interest in the crypto industry ahead of the Senate Agriculture Committee’s markup for crypto market structure legislation. Senator Bennet proposed the Digital Asset Ethics Act to prevent officials from profiting, while Senator Klobuchar seeks to delay the bill until the CFTC is fully staffed.

The CFTC, currently led by Chair Michael Selig, lacks four commissioners needed for effective oversight. Senators Marshall, Durbin, and Welch also proposed the Credit Card Competition Act. The Senate markup was delayed previously due to disputes over stablecoin rewards and DeFi provisions, prompting Coinbase to withdraw support.

There are concerns that an upcoming snowstorm in Washington DC may postpone the Senate markup again. This follows previous delays over disputes regarding stablecoin rewards and DeFi provisions. The amendments aim to address conflicts of interest in the crypto industry, prevent officials from profiting, and ensure regulatory clarity for investors and market participants.

Read more at CoinTelegraph: Democrats File Amendments to Crypto Market Structure Bill