Trump Concedes to New Ethics Provisions in Senate Cryptocurrency Bill

President Donald Trump has agreed to a substantial portion of a bipartisan ethics package attached to the Senate’s “Clarity Act” cryptocurrency legislation. The concessions, disclosed in private Oval Office meetings in mid-July and reiterated in a Sunday-night statement, include barring the president, the first lady and all federally elected officials and their spouses from issuing digital assets, and granting state attorneys general a “meaningful role” in enforcing the law. A senior GOP aide said the president accepted roughly 80 % of the proposals put forward by Sen. Ruben Gallego (D-Ariz.) and Sen. Thom Tillis (R-N.C.), notably the requirement that any “significant” crypto interest be placed in a blind trust or divested.

Trump agreed to new ethics rules to get a crypto bill across the line. But that might not be enough Trump agreed to new ethics rules to get a crypto bill across the line. But that might not be enough Trump agrees to new bipartisan ethics provision in massive crypto bill, Republican senators say

The Clarity Act, in development for over a year, aims to bring the $2.3 trillion cryptocurrency market under federal regulation. Earlier versions barred officials from issuing digital assets but did not address the president’s holdings. Democrats have pressed for stronger safeguards, arguing that personal investments could influence policy. The Senate is slated to hold a procedural vote on the bill on Tuesday, which will determine whether the revised ethics language secures Democratic support.

The Hill

• The president reported more than $1.4 billion in revenue from crypto-related businesses in his most recent disclosure.

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

• Over $500 million came from World Liberty Financial, a venture launched by his sons in 2024.

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

• An additional $600 million was generated from sales of “meme” coins bearing the Trump brand through CIC Digital LLC.

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

Sen. Cynthia Lummis (R-Wyo.), the bill’s lead author, said the updated provisions respond to “Democrats’ stated policy objectives” and urged a “yes” vote, emphasizing that the bill is now ready after a year of bipartisan negotiations. Republican senators John Boozman (R-Ark.) and Tim Scott (R-S.C.) echoed the sentiment, noting that the inclusion of state attorneys general adds an enforcement layer. White House crypto adviser Patrick Witt described the agreement as a “meaningful step” toward passing the legislation.

Trump agrees to new bipartisan ethics provision in massive crypto bill, Republican senators say

Democratic leaders remain skeptical that the concessions go far enough. Maryland Sen. Angela Alsobrooks argued that state attorneys general must have prosecutorial authority if the Department of Justice declines to act.

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

• “We need the state attorneys general to also have the power to prosecute if the Department of Justice refuses to,” — Maryland Sen. Angela Alsobrooks

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

• “It is true that conflict-of-interest provisions do not commonly apply to the president because of their whole-of-government responsibilities,” — Lisa Gilbert, co-president of Public Citizen

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

• “A no vote on Tuesday means opposing real ethics reforms on politicians’ personal investments, handing American leadership in digital assets to our foreign competitors, and leaving Americans with zero protections in the digital asset markets,” — Sen. Cynthia Lummis

The Hill

The Senate will hold a procedural vote on the Clarity Act on Tuesday. If the measure passes, it will move toward full Senate consideration, where additional debates over enforcement mechanisms and the scope of the ethics provisions are expected. Democrats have signaled that a “no” vote would block the bill, while Republicans hope the agreed-upon language will secure the necessary bipartisan support.

The Hill