Trump Agrees to Crypto Ethics Rules in Bid to Pass Sweeping Legislation

President Donald Trump agreed to new ethics rules for cryptocurrency legislation after weeks of negotiations with Senate lawmakers. The move is aimed at passing the Clarity Act, a sweeping bill that seeks to bring legitimacy to the $2.3 trillion crypto market.

The bill's fate now hangs in the balance as it faces a pivotal vote on Tuesday. Trump's agreement to ethics provisions has been seen as crucial in getting key Democrats on board with the legislation.

According to sources, Trump agreed to bar himself and his wife from issuing meme coins, which he launched last January on the cusp of his second inauguration. He also consented to a tougher ethics proposal that would require him to put his crypto holdings in a blind trust and divest when they reach a certain value.

However, some lawmakers have expressed concerns that Trump's agreement may not go far enough. Sen. Ruben Gallego and Sen. Thom Tillis had pushed for an additional provision that would allow state attorneys general to enforce the law, rather than relying on the Justice Department.