Trump Agrees to Tougher Ethics Provisions in Cryptocurrency Bill
President Donald Trump has agreed to a significant portion of a stringent ethics proposal in a broader cryptocurrency bill, according to three key Republican authors. The bill is headed for a crucial vote this week and initially had only a provision that would bar all federally elected officials and their spouses, as well as federal judges, from issuing digital assets.
A core group of Democrats, including Sen. Thom Tillis (R-N.C.), said the initial proposal didn't go far enough to address 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 instead of relying solely on the Justice Department.
Republican Sens. Cynthia Lummis, Tim Scott, and John Boozman announced Trump's agreement, stating it includes a 'meaningful role' for state attorneys general in enforcing the crypto measure should it become law.
The revised bill will include a requirement to either 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.