White House Urges Senate Dems to Accept Trump's Crypto Concessions

The White House is urging Senate Democrats to accept a concession made by President Trump on crypto limits, which would allow the law to dictate what he can and cannot do in the industry.

The Digital Asset Market Clarity Act has been delayed for months due to negotiations over conflict-of-interest provisions. The recent release of the final working draft included ethics language, but Democrats are criticizing it as weak.

White House crypto adviser Patrick Witt said that Trump's concessions would subject him to unprecedented restrictions on his conduct in the crypto industry, and that no other president has done so. However, Senator Elizabeth Warren is disappointed with the proposal, calling it 'a joke' and saying that it would not prevent Trump from profiting from cryptocurrency ventures.

The ethics provision would temporarily ban senior government officials from issuing or sponsoring cryptocurrencies, but exemptions for past activity could allow Trump to maintain some of his prominent crypto ties. Democrats are now demanding more enforcement powers against Trump, which could further delay the passage of the Clarity Act.