Trump Agrees to Crypto Bill Ethics Provisions Amid Senate Vote
President Donald Trump has agreed to new ethics rules in order to get a cryptocurrency bill across the line. The $2.3 trillion market hangs in the balance, with a pivotal Senate vote on Tuesday determining whether Washington cements crypto legitimacy into law or unleashes more campaign cash in the midterm elections.
The bill's lead author, Sen. Cynthia Lummis (R-Wyo.), has been pushing for tough restrictions on politicians' crypto investments. Trump agreed to bar himself and his wife from issuing meme coins, but a tougher ethics proposal presented by Sens. Ruben Gallego and Thom Tillis may be too little, too late.
The new language would require the president to put his crypto holdings in a blind trust and divest when they reach a certain value. It would also allow state attorneys general to step in and enforce the law, giving Democrats confidence that the measure will not be toothless against Trump's family business interests.