Trump Relents on Crypto Bill Amid Concerns Over Conflict of Interest

President Donald Trump has agreed to a key provision of a bipartisan cryptocurrency bill aimed at regulating digital assets, according to Republican senators. The sweeping legislation initially had a provision that would bar federally elected officials and their spouses from issuing digital assets, but Democrats had concerns about conflict-of-interest issues related to Trump's crypto wealth.

Democratic Senators Thom Tillis and Ruben Gallego demanded language that would allow state attorneys general to enforce the law in addition to the Justice Department. The updated bill includes a 'meaningful role' for state attorneys general, with Trump agreeing to about 80% of the proposal.

The agreement also includes a provision requiring officials to divest or place their significant financial interests in a blind trust, and allowing state attorneys general to sue crypto exchanges that list banned digital assets.