Trump agrees to new bipartisan ethics provision in massive crypto bill, GOP aide says

President Donald Trump has agreed to a substantial portion of a strict ethics proposal contained within a major cryptocurrency bill, according to a senior Republican official familiar with the negotiations. The proposal, which is pending a crucial vote this week, initially included a clause prohibiting federal officials and their spouses, as well as federal judges, from issuing digital assets.

However, several Democrats and Senators Thom Tillis and Ruben Gallego argued that the proposed measure was not stringent enough to address conflict-of-interest concerns related to Trump's crypto holdings. As a result, the president has reportedly agreed to approximately 80% of their demands, primarily regarding the provision allowing state attorneys general to enforce the law.

The updated bill set to be released later on Sunday will incorporate a requirement for lawmakers to either divest or place their significant financial interests in an entity issuing cryptocurrencies in a blind trust. Additionally, Trump has consented to language enabling state attorneys general to sue a crypto exchange if it lists a digital asset that would be barred by the broader bill.