Trump Agrees to Crypto Bill Ethics Provisions Amid Senate Vote Looms

President Donald Trump has agreed to new ethics rules as part of a sweeping cryptocurrency bill in the Senate. The move is seen as crucial for passing the legislation, which aims to bring legitimacy to the $2.3 trillion market.

The president had been hearing concerns from senators that he would need to agree to ethics provisions to get the bill passed. Trump agreed to bar himself and his wife from issuing meme coins, a type of cryptocurrency that can be quickly launched without much oversight.

Additionally, Trump consented to a tougher ethics proposal that would require him to put his crypto holdings in a blind trust and divest when those holdings reach a certain value. This provision is seen as critical for Democrats who are concerned about the president's conflict of interest.

The Senate vote on Tuesday will determine whether Washington cements crypto legitimacy into law or if the industry unleashes more campaign cash in the midterm elections.