Trump Agrees to Crypto Bill Ethics Rules Amid Pivotal Senate Vote
President Donald Trump has agreed to new ethics rules in order to get a cryptocurrency bill passed through Congress. The bill, known as the Clarity Act, would regulate the $2.3 trillion crypto market and bring it into the mainstream.
The agreement comes after weeks of negotiations between Trump's administration and senators drafting the legislation. In a meeting with Senators Cynthia Lummis and Bernie Moreno in mid-July, Trump agreed to abide by conflict-of-interest restrictions in order to get key Democrats on board with the bill.
Under the new rules, all federally elected officials and their spouses would be barred from issuing digital assets. This would mean that Trump would no longer be able to sponsor meme coins, like the one he launched on the cusp of his second inauguration last January.