Trump Agrees to Crypto Bill Provisions Amid Conflict-of-Interest Concerns
President Donald Trump has agreed to key provisions in a bipartisan crypto bill that aims to address conflict-of-interest issues related to his cryptocurrency wealth.
The bill, which is set for a key vote this week, initially included a provision that would bar all federally elected officials and their spouses from issuing digital assets. However, a group of Democrats led by Senator Thom Tillis and Senator Ruben Gallego demanded stronger language that would allow state attorneys general to step in and enforce the law.
According to Republican Senators Cynthia Lummis, Tim Scott, and John Boozman, Trump has agreed to about 80% of the proposal from Tillis and Gallo. This includes a 'meaningful role' for state attorneys general to play in enforcing the crypto measure should it become law.
The updated bill will also include a requirement for federally elected officials to either divest or place in a blind trust any significant financial interest in an entity that issues cryptocurrencies.