Trump Relents on Crypto Bill Ethics Provisions
President Donald Trump has agreed to new ethics rules in exchange for getting a cryptocurrency bill through the Senate. The move aims to bring the $2.3 trillion market into mainstream legitimacy, but its fate still hangs on whether these sign-offs from Trump go far enough.
A key provision would bar all federally elected officials and their spouses, as well as federal judges, from issuing digital assets. This includes President Trump and his wife, who have launched meme coins in the past.
Trump has amassed significant amounts of crypto wealth while in office, complicating dynamics for senators drafting legislation to regulate the industry.
The bill's lead author, Sen. Cynthia Lummis, said a vote against the Clarity Act would not be a principled stand against President Trump, but rather a vote against implementing tough restrictions on politicians for crypto investments.