Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
TRUMP Senate cryptocurrency regulation debate heats up: Loomis fights back against Warren's office documents
A Senate debate over the regulation of the cryptocurrency industry is becoming increasingly heated. Senator Cynthia Loomis refuted a fact note released by Elizabeth Warren's office.
The document, released by minority staff of the Senate Banking Committee, criticized Trump-Republican moral legislative language in the new draft bill released on July 22. Loomis responded one by one and refuted it.
The key to the Clarity Act
The Clarity Act is still stalled in Congress. Loomis warned that if it fails to pass before recess, the bill's fate could be postponed until 2030. The bill aims to set rules for the digital asset industry. Proponents believe that both consumers and law enforcement need a clear regulatory framework. Warren's office argued that the bill contained loopholes that could benefit President Trump's personal cryptocurrency holdings.
"Big bank Beth @SenWarren hates President Trump so much that she would rather have no rules in the digital asset industry-leaving consumers vulnerable and law enforcement helpless-than win for consumers. Let us clarify the facts in her 'fact statement':..."--Senator Cynthia Loomis (@SenLummis) July 31, 2026
Warren's Criticism
A fact sheet from minority staff of the Senate Banking Committee pointed out that in 2025 alone, Trump made more than $1.4 billion from cryptocurrency companies. The document also claims that the ethics clause "does not restrict the primary ways in which Trump has made more than a billion dollars in profits through cryptocurrencies since taking office."
Minority party staff believe that law enforcement power is entirely left to the Ministry of Justice. State attorneys general and private parties are "explicitly prohibited from initiating any enforcement action."
The fact sheet also raised concerns about World Liberty Financial Corporation, noting that Trump made $799 million from the platform based on financial disclosures. Minority party staff believe family members and Trump-linked entities may set up new businesses to circumvent the bill's restrictions.
Loomis 'response
Loomis refuted the description of the confidential trust clause in the bill. She cited 5 U.S. Code § 13104 (f)(3)(A) and 5 CFR § 2634.403, which prohibit trustees from disclosing trust holding information to officials.
She believes that this restriction "is the key to making confidential trusts a confidential trust." The image she attached to her post showed relevant regulatory text, confirming that communication between independent trustees and related parties is restricted, and that even non-trust matters are subject to the ban.
Regarding $TRUMP memein, Loomis pointed out that the coin was issued before Trump took office. She believes that the moral ban applies to behavior during the presidential term, not behavior before the term. Regarding adult children running World Free Financial Corporation, she said federal ethics laws "never attribute financial benefits to adult, independent children-only for spouses and minor children."
Next step
Both senators stated their positions before a possible recess deadline. Warren's office focuses on law enforcement loopholes and existing revenue sources.
Loomis believes the bill is ready and argues that existing law already addresses Warren's concerns. Progress on the Clarification Act now depends on whether Congress can act before recess.
