Trump Agrees to Crypto Bill Provisions, Including State AG Enforcement
President Donald Trump has agreed to a significant portion of a bipartisan ethics proposal that is part of broader cryptocurrency legislation. The bill, which includes provisions related to digital assets, had been met with opposition from some Democrats who felt it did not go far enough to address conflict-of-interest issues.
The initial version of the bill would have barred all federally elected officials and their spouses, as well as federal judges, from issuing digital assets. However, a core group of Democrats, along with Senator Thom Tillis (R-N.C.), had pushed for language that would allow state attorneys general to step in and enforce the law.
According to Republican Sens. Cynthia Lummis of Wyoming, Tim Scott of South Carolina, and John Boozman of Arkansas, Trump's agreement includes a 'meaningful role' for state attorneys general in enforcing the crypto measure. This provision would allow state attorneys general to sue a crypto exchange if they list a digital asset that would be barred by the overall bill.
Trump has also agreed to language requiring federally elected officials and their spouses, as well as federal judges, to either divest or place in a blind trust any 'significant' financial interest in an entity that issues cryptocurrencies. This is seen as a significant concession from the White House.