Trump Agrees to Crypto Bill Ethics Rules Amid Industry Pressure
President Trump has agreed to new ethics rules as part of a push for a sweeping cryptocurrency bill in the Senate. The development comes after weeks of negotiations between Republican senators and the White House.
The bill, known as the Clarity Act, aims to bring the $2.3 trillion crypto market into mainstream legitimacy. However, its fate hangs in the balance due to concerns over Trump's own crypto holdings and potential conflicts of interest.
Trump agreed to a measure that bars him and his wife from issuing meme coins, similar to those he launched on the cusp of his second inauguration last January. He also consented to a tougher ethics proposal, which would require him to put his crypto holdings in a blind trust and divest when they reach a certain value.
The White House had initially raised concerns over giving state attorneys general the power to enforce the law, arguing that it could be used as a political weapon against the president. However, Trump eventually agreed to language that includes a 'meaningful role' for state attorneys general in enforcing the crypto measure.