Politics
Trump agrees to ethics provisions in crypto bill ahead of Senate vote
The compromise allows state attorneys general to enforce rules and mandates blind trusts for major holdings.
The short version
- President Donald Trump agreed to a major portion of a bipartisan ethics proposal integrated into the Clarity Act, according to Republican senators.[ABC News]
- The revised legislation requires officials to divest or place significant crypto-issuing interests into blind trusts and empowers state attorneys general to enforce the law.[ABC News · ABC News]
- The Senate faces a vote on Tuesday, though passage remains uncertain amid intense industry and banking lobbying.[CNBC]
Key facts
- President Donald Trump agreed to roughly 80% of an ethics proposal crafted by Sens. Thom Tillis and Ruben Gallego.[ABC News · ABC News]
- Republican Sens. Cynthia Lummis, Tim Scott, and John Boozman stated the updated bill provides state attorneys general with a role in enforcing crypto rules.[ABC News · ABC News]
- The updated bill text requires individuals to divest or place significant financial interests in crypto-issuing entities into a blind trust.[ABC News]
- White House officials privately expressed concern that Democratic state attorneys general might wield enforcement powers as political weapons.[ABC News]
What remains uncertain
- It remains uncertain whether the Clarity Act has sufficient support to pass the upcoming Senate vote on Tuesday.[CNBC]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- Trump agrees to new bipartisan ethics provision in massive crypto bill, Republican senators sayABC News - US News
- Clarity Act faces make-or-break Senate vote on Tuesday as crypto industry pushes for billCNBC
- Trump agreed to new ethics rules to get a crypto bill across the line. But that might not be enoughABC News - Business · Wire: associated-press