Trump agrees to new bipartisan ethics provision in massive crypto bill
Summary
President Donald Trump has agreed to most parts of a new ethics rule in a large cryptocurrency bill set for a key vote this week. The rule will give state attorneys general the power to help enforce the law, along with the Justice Department, and requires officials to separate themselves financially from crypto companies.Key Facts
- President Trump accepted about 80% of a strict ethics proposal in the crypto bill.
- The bill includes a ban on federally elected officials, their spouses, and federal judges from issuing digital assets.
- Some Democrats and Republican Senator Thom Tillis wanted stronger conflict-of-interest rules related to Trump's crypto assets.
- The bill now gives state attorneys general authority to enforce the crypto law, not just the Justice Department.
- White House officials were concerned state attorneys general might use the law for political reasons.
- The bill requires officials to either sell off or put in a blind trust any major financial interests in crypto companies.
- State attorneys general will be able to sue crypto exchanges that list banned digital assets.
- The bill is bipartisan and aims to address ethics and regulation of cryptocurrencies.
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