Trump Agrees to Crypto Bill Ethics Rules Amid Senate Vote Uncertainty
President Trump has agreed to new ethics rules for a sweeping cryptocurrency bill being written in the Senate, but it may not be enough. The bill aims to bring legitimacy to the $2.3 trillion crypto market, and a pivotal Senate vote on Tuesday could determine its fate.
The White House revealed that Trump agreed to bar himself and his wife from issuing meme coins, which they had launched before returning to the White House for a second time.
Additionally, Trump consented to tougher ethics provisions demanded by key senators. The new rules would require him to put his crypto holdings in a blind trust and divest when those holdings reach a certain value.
The bill's lead author, Senator Cynthia Lummis (R-Wyo.), stated that the vote is not about taking a principled stand against Trump but rather implementing tough restrictions on politicians for crypto investments.