Trump Agrees to Crypto Bill Ethics Rules Amid Hurdles
President Donald Trump has agreed to new ethics rules as part of a sweeping cryptocurrency bill being written in the Senate. The rule would bar him and his wife from issuing meme coins, a type of digital asset that they launched before his second inauguration last January.
The agreement is seen as a crucial step towards passing the bill, which aims to bring the $2.3 trillion crypto market into the mainstream. However, hurdles remain, with some senators questioning whether Trump's concessions go far enough.
According to sources close to the Oval Office, Trump agreed to the new ethics rules after being pressed by key senators, including Cynthia Lummis and Bernie Moreno. The rules would require the President to put his crypto holdings in a blind trust and divest when those holdings reach a certain value.
The development has significant implications for the crypto industry, which has been waiting for clarity on regulatory issues. If the bill passes, it could provide much-needed legitimacy to the market and pave the way for greater adoption.