Trump Relents on Crypto Bill Ethics, but Critics Say It May Not Be Enough
President Donald Trump agreed to new ethics rules for cryptocurrency legislation after weeks of pressure from senators. The Clarity Act, a sweeping bill to regulate the $2.3 trillion crypto market, has been stalled due to concerns about Trump's personal involvement in digital assets.
Trump had initially resisted calls to agree to conflict-of-interest restrictions, but eventually agreed to bar himself and his wife from issuing meme coins. He also consented to a tougher ethics proposal that would require him to put his crypto holdings in a blind trust and divest when they reach a certain value.
The agreement was reached after a meeting with senators Cynthia Lummis and Bernie Moreno, who had been pushing for Trump's cooperation. The White House initially raised concerns about giving state attorneys general the power to enforce the law, but eventually agreed to include this provision in the bill.