Trump Greenlights State AGs to Sue Crypto Exchanges in Bipartisan Bill Update
US President Donald Trump has reportedly agreed to include language in a cryptocurrency bill that would permit state attorneys general to sue crypto exchanges listing blocked digital assets.
The development comes as part of a bipartisan effort to update the legislation, with three Republican authors claiming that around 80% of an ethics pitch proposed by senator Thom Tillis and Ruben Gallego has been approved by Trump.
Under the bill, federal judges and elected officials would be banned from issuing digital assets, but the coalition of Democrats and senator Tillis argued that this provision does not adequately address conflict-of-interest concerns related to the president's crypto earnings.
The group called for the inclusion of language authorizing state attorneys general to enforce the legislation alongside the justice department, which Trump supposedly agreed to permit. State attorneys general would play a 'meaningful role' in enforcing the bill if it becomes law, according to senators Cynthia Lummis, Tim Scott, and John Boozman.
However, some have expressed concerns that authorizing state attorneys general could be used as a means of targeting Trump and GOP officials, or vice versa. The White House had previously flagged concerns with this provision due to these potential implications.