Democratic Senator Ruben Gallego said on Thursday that ethics language in the Digital Asset Market Clarity Act draft released by Senate Republicans on Wednesday falls short and does not represent a serious effort. He indicated he would collaborate with Republican colleagues on alternative wording.

The proposed text includes provisions that would prohibit all US federal officials, including the president, from issuing or sponsoring any digital asset. Democrats have described the ethics section as insufficient. Gallego stated that the draft failed to reflect months of prior bipartisan work and announced plans to submit revised language in coordination with Senator Thom Tillis and other Republicans. He affirmed that discussions remain active.

Senate Republicans have rejected characterizations of the ethics measures as weak. Senator Bernie Moreno described the draft as containing the strongest ethics language in US history.