Trump's Crypto Bill Negotiations Involved Two Significant Ethics Concessions
White House crypto adviser Patrick Witt revealed that Donald Trump was willing to make concessions on ethics measures for the Clarity Act, which failed to advance in the Senate last week. The two concessions were aimed at addressing criticism of Trump's crypto interests creating conflicts of interest.
The first concession involved Trump accepting rules that would require him to either divest his financial interests in crypto or transfer them to a blind trust, where assets are held under independent management without owner intervention. This does not mean Trump actually sold or transferred these assets.
Witt also mentioned allowing state attorneys general to initiate legal proceedings against the federal government if ethics violations were not addressed by the administration.