Senate Committee Advances Trump ‘Gryfto’ Act
WASHINGTON, D.C. – The Senate Agriculture Committee today approved the Digital Commodity Intermediaries Act. The bill addresses the oversight by the Commodity Futures Trading Commission (CFTC) of certain cryptocurrency exchanges. Bartlett Naylor, economist for Public Citizen, released the following statement:
“Leading Democrats correctly rejected this latest effort to sanitize President Trump’s massive crypto grift, recognized by the nation’s leading ethics experts as the most massive corruption in presidential history. This ‘gryfto’ bill contains no presidential conflict standards. Further, it wraps these sprawling Ponzi cryptocurrency schemes with the imprimatur of the U.S. government, allowing hucksters to affix the label of the CFTC to their scams.
“The crypto industry spent unprecedented amounts in the 2024 election and has amassed a major war chest for the 2026 midterms to pressure Congress, as documented in Public Citizen’s reports. Responsible lawmakers must continue to resist this craven intimidation.”