Trump Agrees to Tougher Ethics Provisions for Crypto Bill Support

President Donald Trump's support for a sweeping cryptocurrency bill in the Senate has come with concessions on ethics provisions that apply to him and his family. In recent weeks, senators have been pushing for measures to bar federal officials and their spouses from issuing digital assets, as well as requiring them to put their crypto holdings in a blind trust.

According to sources, Trump initially agreed to a measure barring him and his wife from launching meme coins, similar to those they swiftly launched on the cusp of his second inauguration last January. He later consented to a tougher ethics proposal that several key senators had demanded, which includes requirements for state attorneys general to play a 'meaningful role' in enforcing the crypto measure.

The updated bill released Sunday also includes language requiring federal officials and their spouses to either divest or place in a blind trust any significant financial interest in an entity that issues cryptocurrencies. This would likely force Trump to divest from ventures such as World Liberty Financial, the cryptocurrency venture launched by his sons in 2024.

Trump reported more than $500 million in revenue from World Liberty Financial sales of crypto products, including governance tokens, in his annual disclosure report filed with the Office of Government Ethics. The White House had initially expressed concerns about giving state attorneys general the power to enforce the law, but Trump agreed to language that includes this provision.

Senators have framed a vote against the Clarity Act as a vote against implementing tough restrictions on politicians for crypto investments. A pivotal Senate vote on the cryptocurrency bill is scheduled for Tuesday, and its outcome will determine whether Washington cements crypto legitimacy into law or unleashes more campaign cash in the midterm elections.