Trump Concedes on Crypto Bill Ethics Provisions After Bipartisan Negotiations
President Donald Trump has agreed to significant changes in the bipartisan crypto bill, addressing concerns from Democrats about ethics and conflict-of-interest issues related to his cryptocurrency wealth.
Initially, the bill only prohibited federally elected officials and their spouses, as well as federal judges, from issuing digital assets. However, a core group of Democrats, led by Sen. Thom Tillis (R-N.C.) and Sen. Ruben Gallego (D-Ariz.), pushed for stronger language.
After negotiations, Trump agreed to allow state attorneys general to step in and enforce the law, rather than relying solely on the Justice Department. This 'meaningful role' for state attorneys general was a key demand from Tillis and Gallego.
In addition, the updated bill will require officials with significant financial interests in crypto entities to divest or place them in a blind trust. Trump also agreed to language that would allow state attorneys general to sue a crypto exchange if they list a digital asset prohibited by the bill.