Trump Agrees to Crypto Ethics Provision Amid Clarity Act Vote
President Donald Trump has agreed to a significant portion of a stringent ethics proposal in the Clarity Act, a broader cryptocurrency legislation headed for a key vote this week. The original bill had only one provision that would bar federally elected officials and their spouses from issuing digital assets.
A core group of Democrats, including Sen. Thom Tillis, R-N.C., expressed concerns about conflict-of-interest issues related to Trump's crypto wealth. They demanded language that would allow state attorneys general to step in and enforce the law in addition to the Justice Department.
The updated bill will include a requirement for officials to divest or place in a blind trust any significant financial interest in an entity that issues cryptocurrencies. It also allows state attorneys general to sue a crypto exchange if they list a digital asset that would be barred under the overall bill.