Trump agrees to new bipartisan ethics provision in massive crypto bill, Republican senators say
The revised bill gives state attorneys general enforcement power and requires covered officials to divest crypto holdings or place them in blind trusts.
- On Sunday, President Donald Trump agreed to a stringent ethics package for the cryptocurrency bill, authorizing state attorneys general to enforce provisions alongside the Justice Department ahead of Tuesday's pivotal Senate vote.
- Senators Thom Tillis and Ruben Gallego demanded the ethics language to address conflict-of-interest concerns regarding Trump's crypto wealth; their proposal comprises about 80% of the final agreement, making it essential to advance the legislation.
- Revised bill text requires officials to divest or place "significant" financial interests in digital assets into blind trusts, preventing Trump from sponsoring future meme coins similar to those launched last January.
- Granting state attorneys general a "meaningful role" in enforcement addresses a critical Democratic red line; Maryland Senator Angela Alsobrooks, a swing vote, stated she will not support legislation that fails to cover ethics.
- The Senate faces a procedural vote on the $2.3 trillion crypto market bill this Tuesday; success requires 60 votes, necessitating support from at least seven Democrats to advance the legislation.
193 Articles
193 Articles
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