Trump Agrees to Crypto Bill Ethics Provisions Amid Legislative Limbo
President Donald Trump has agreed to new ethics rules as part of a cryptocurrency bill making its way through the Senate. The move is seen as crucial for passing the legislation, which aims to bring legitimacy to the $2.3 trillion market.
The White House had initially resisted provisions that would bar Trump and his wife from issuing meme coins, but ultimately agreed after pressure from senators including Cynthia Lummis and Bernie Moreno. The new rules would also require the president to put his crypto holdings in a blind trust and divest when those holdings reach a certain value.
The language includes a 'meaningful role' for state attorneys general to play in enforcing the crypto measure, which had been a key demand from Democrats. Trump's agreement to these provisions comes after he initially expressed skepticism about giving state attorneys general the power to enforce the law.