Two Democratic lawmakers on the US Senate Banking Committee and Senate Agriculture Committee are expected to vote on a market structure bill soon. They would oppose the legislation without an investigation into two White House officials – David Sacks and Steve Witkoff. The investigation centers on politically connected crypto interests potentially undermining national security. Senators Elizabeth Warren and Elissa Slotkin sent a letter to various US government agencies calling for this investigation.

The controversy began with a $2 billion deal between Abu Dhabi-based investment company MGX and crypto exchange Binance, facilitated by Sacks and Witkoff. The deal involved the USD1 stablecoin issued by the Trump family’s crypto business, World Liberty Financial. Senators Warren and Slotkin emphasized the need to evaluate these allegations of conflicts of interest for the sake of national security and potential crypto corruption.

Warren and Slotkin could be pivotal votes for a market structure bill in the Senate. A group of 12 Democrats previously signaled a willingness to work with Republicans on market structure, provided key provisions were met. The Senate bill, called the Responsible Financial Innovation Act, is being discussed by both parties in hopes of passing it into law by 2026. The House market structure bill, the CLARITY Act, has already passed with bipartisan support.

Read more at Cointelegraph: US Senators May Resist Market Structure over ’Foreign Crypto Deals’