Trump's Crypto Divestment Deal Could Save Him Millions
A proposed ethics deal tied to the US crypto market-structure bill could offer President Donald Trump millions in tax savings, according to Bloomberg. The bipartisan proposal would require Trump to divest from crypto-related businesses and may allow him to defer capital gains taxes on any divestitures.
The proposal has been discussed as a potential path forward for the market-structure bill, which has been stalled due to Democratic concerns about Trump's conflicts of interest in the crypto space. The bill aims to clarify regulatory guidelines for digital assets, but progress has been hindered by Trump's significant financial ties to the industry.
Trump's latest financial disclosure report showed $1.4 billion in income from crypto-related ventures during the prior year, with a large portion coming from licensing and sale of memecoins. The proposed ethics deal may help address these concerns and pave the way for the bill's passage.