President Donald Trump agreed to stricter ethics rules demanded by Democrats to limit federal officials from creating and backing digital assets in a major cryptocurrency bill.
A vote to move forward on the Clarity Act, which would establish the first comprehensive federal framework for regulating cryptocurrency, is teed up in the Senate for Tuesday.
Senate Republicans released new text Sunday night that incorporates a proposed change from Sens. Ruben Gallego (D-Arizona) and Thom Tillis (R-North Carolina). The proposal would give state attorneys general the ability to sue if federal officials violate rules in the bill that ban them from creating or sponsoring digital assets while in office.
Before the change, the bill would have given the U.S. attorney general the sole authority over enforcement, which Democrats argued could have allowed Trump, who owns a massive cryptocurrency portfolio, to bypass the ethics rules.
Sen. Cynthia Lummis (R-Wyoming), the bill’s sponsor, confirmed Trump’s support in a post on X on Monday.
It’s unclear whether this change, among others, will be enough to garner the necessary 60 votes to advance the bill.
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