Trump Agrees to Crypto Bill Ethics Provisions Amid Senate Vote Uncertainty

President Trump has agreed to new ethics rules as part of a push to pass a sweeping cryptocurrency bill in the Senate. The bill, known as the Clarity Act, aims to bring the $2.3 trillion crypto market into the mainstream.

Trump's agreement came after weeks of negotiations with key senators, including Cynthia Lummis and Bernie Moreno, who met with him at the White House in mid-July. They presented language that would bar federally elected officials and their spouses from issuing digital assets, a provision that would affect Trump himself and his wife, Melania.

However, this was not enough for some senators, including Ruben Gallego and Thom Tillis, who proposed an additional measure requiring the president to put his crypto holdings in a blind trust and divest when they reach a certain value. This provision also includes a role for state attorneys general to enforce the law.

The agreement is seen as a crucial step towards passing the bill, but its fate remains uncertain. A pivotal Senate vote on Tuesday will determine whether Washington cements crypto legitimacy into law or whether the industry unleashes more campaign cash in the midterm elections.