Trump's Crypto Bill Deal Hangs on Ethics Concessions

President Donald Trump has agreed to new ethics rules as part of a cryptocurrency bill being written in the Senate. The proposed legislation aims to bring the $2.3 trillion market into mainstream legitimacy, but its fate hangs in the balance due to Trump's significant crypto wealth and his family's business dealings.

The White House agreed to bar all federally elected officials and their spouses from issuing digital assets, including meme coins like those launched by Trump and his wife Melania. However, a tougher ethics proposal presented by Sen. Ruben Gallego, D-Ariz., and Sen. Thom Tillis, R-N.C., would require the president to put his crypto holdings in a blind trust and divest when those holdings reach a certain value.

Trump initially resisted the stricter language, but eventually agreed to include 'a meaningful role' for state attorneys general in enforcing the law. The bill's fate now hinges on whether this concession is sufficient to secure key Democratic votes.