Trump Bows to Bipartisan Crypto Bill Provisions Amid Ethics Concerns

A significant development in cryptocurrency regulation has emerged as President Trump has agreed to key provisions of a bipartisan ethics proposal within a broader crypto bill. According to a senior GOP aide, the president has accepted about 80% of the proposal, which aims to address conflict-of-interest issues surrounding his own crypto wealth.

The original provision would have barred all federally elected officials and their spouses from issuing digital assets. However, a core group of Democrats, led by Sen. Thom Tillis (R-N.C.) and Sen. Ruben Gallego (D-Ariz.), sought to strengthen the proposal by allowing state attorneys general to enforce the law in addition to the Justice Department.

The White House had expressed concerns about giving state attorneys general this power, arguing it could be used as a political weapon against the president and other GOP officials. An updated version of the bill will include requirements for divestment or blind trusts for significant financial interests in entities issuing cryptocurrencies.