Trump Agrees to Crypto Bill Provisions, Including State AG Enforcement Role

President Donald Trump has agreed to a significant portion of a bipartisan ethics provision in a massive cryptocurrency bill. The bill, which is set for a key vote this week, initially had a provision that would bar all federally elected officials and their spouses from issuing digital assets.

A group of Democrats and Republican senators led by Sen. Thom Tillis (R-N.C.) demanded stronger language to address conflict-of-interest issues related to Trump's crypto wealth. They wanted language that would allow state attorneys general to step in and enforce the law, in addition to the Justice Department.

According to three Republican senators - 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 to play in enforcing the crypto measure. The updated bill will also include a requirement to either divest or place in a blind trust any significant financial interest in an entity that issues cryptocurrencies.

White House officials had previously raised concerns about giving state attorneys general the power to enforce the law, arguing it could be used as a political weapon against the president and other GOP officials. However, a senior GOP aide said Trump has agreed to 'about 80%' of the proposal from Tillis and Gallego.