Trump agrees to new bipartisan ethics provision in massive crypto bill, Republican senators say
The revised text would let state attorneys general enforce the rules and force covered officials to divest major crypto holdings or use 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.
131 Articles
131 Articles
Trump Agrees to Crypto Ethics Rules Only After His Own Crypto Fortune Becomes the Problem
President Donald Trump has backed tougher crypto ethics provisions in the CLARITY Act, including divestment rules and expanded state enforcement, ahead of a crucial Senate procedural vote.
Senate Republicans' new crypto bill text adds new ethics language
U.S. Senate Republicans released a revised draft of major cryptocurrency legislation on Monday that includes new ethics language approved by President Donald Trump, senators said in a statement.
Trump concedes on ethics rules as major US crypto bill nears vote
US President Donald Trump has accepted ethics restrictions he had long resisted, removing the final obstacle to the CLARITY Act, the most significant crypto legislation ever attempted in the US, which now faces a decisive Senate vote on Tuesday.
President Donald Trump agreed to new ethics rules to get a crypto bill across the line. But that might not be enough.
President Donald Trump has amassed significant amounts of crypto wealth while in office, complicating dynamics for senators drafting legislation to try to bring the fledgling digital assets industry into the mainstream.
The Independent
The Independent (US)Trump caves to tougher ethics crackdown as his crypto fortune faces scrutiny
President Donald Trump has agreed to a significant portion of a stringent ethics proposal that is part of broader cryptocurrency legislation
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