Trump Relents on Crypto Bill Ethics Amid Senate Showdown
President Donald Trump's support for a sweeping cryptocurrency bill in the Senate has been conditional on agreeing to new ethics rules that would apply to him as well. The White House has maintained that the president stays out of family business decisions administered by his sons.
However, Trump recently agreed to bar himself and his wife from issuing meme coins, which they had launched before he returned to the White House for a second time. He also consented to a tougher ethics proposal demanded by key senators.
The pivotal Senate vote on the cryptocurrency bill is set for Tuesday, and it hinges mainly on whether Trump's sign-offs go far enough. If passed, the bill would cement crypto legitimacy into law but could determine whether Washington cements it or unleashes even more campaign cash in the midterm elections.
Sen. Cynthia Lummis, R-Wyo., the lead author of the crypto bill, emphasized that a vote against the Clarity Act is not a principled stand against Trump, but rather a vote against implementing tough restrictions on politicians for crypto investments.