Trump agreed to new ethics rules to get a crypto bill across the line. But that might not be enough

President Donald Trump agreed to new ethics rules to ensure passage of a sweeping cryptocurrency bill in the Senate. The deal comes after weeks of negotiations in which Trump had to agree to provisions that apply to himself and his wife. The bill, known as the Clarity Act, aims to bring the digital assets industry into mainstream legality, but its fate hinges on whether Trump's agreement goes far enough to satisfy key Democrats.

The president initially consented to a measure that would bar him and his wife from issuing meme coins, but later agreed to a tougher ethics proposal presented by Republicans. This proposal would require Trump to place his crypto holdings in a blind trust and divest from ventures such as World Liberty Financial, a cryptocurrency venture launched by his sons in 2024. The deal also allows state attorneys general to enforce the law, a provision that Democrats consider critical to ensuring the bill's effectiveness.