Trump Accepts 80% of Crypto Ethics Rules
President Trump accepted a major ethics compromise, agreeing to divest or blind trust significant crypto holdings.
President Donald Trump accepted roughly 80% of a new ethics proposal. This move clears a path for a key cryptocurrency bill vote this Tuesday. The agreement resolves a standoff over conflict-of-interest rules.
A senior Republican official confirmed the deal. The compromise includes strict divestment requirements for federal officials. State attorneys general gain new enforcement powers.
Divestment rules target crypto holdings
The updated bill requires officials to divest or use blind trusts. This applies to any significant financial interest in digital asset issuers. The rule extends to federally elected officials and their spouses.
Federal judges are also covered by the new restrictions. The initial draft only barred the issuance of digital assets. The new language addresses broader financial conflicts of interest.
State prosecutors gain enforcement powers
State attorneys general can now sue crypto exchanges. This power applies if an exchange lists a banned digital asset. The Justice Department retains its own enforcement role.
White House officials initially opposed this provision. They feared political weaponization by state lawyers. The final text balances federal and state oversight.
Bipartisan support secures legislative progress
Senators Thom Tillis and Ruben Gallego drove the negotiations. Their support is essential for the bill’s passage. The compromise satisfies their demand for stricter oversight.
The bill faces a critical vote this week. The revised text is expected later Sunday. Reports from GN markets/crypto (en-US) highlight the speed of the final agreement.
