Trump's Crypto Holdings Could Be Tied to $Millions in Tax Savings
A proposed ethics provision in the U.S. cryptocurrency bill could force President Donald Trump to divest from crypto-related businesses, potentially saving him millions of dollars in taxes.
The Senate is negotiating over a broader U.S. cryptocurrency bill, known as the Clarity Act, which aims to set clearer regulatory standards for digital asset firms tied to consumer protection, innovation, and competitiveness.
The proposed ethics rules would require Trump to divest from crypto-related businesses, a step that may let him defer federal taxes on gains for years and potentially save millions of dollars.
The Senate push ties passage of the Clarity Act to new ethics rules, with Sens. Thom Tillis and Ruben Gallego sending Trump ethics language last week that would require him to divest from crypto-related businesses.