Trump Bends on Ethics Rules to Save His Crypto Bill — Will It Be Enough?
A major push to regulate the cryptocurrency industry in the United States has reached a tipping point, and the outcome may hinge on one man's personal finances: President Donald Trump's own crypto holdings.
What's Happening
The Senate is preparing for a critical procedural vote on the Clarity Act, a long-awaited bill that would give cryptocurrencies a clear regulatory framework in the U.S. The bill has been stuck for months. The real sticking point isn't blockchain rules — it's ethics. Many Democrats refuse to support the bill unless it stops the president, his family, and other officials from personally profiting off the industry they'd be regulating. Trump reportedly holds well over a billion dollars in crypto assets tied to a family venture.
Trump Gives Ground
Trump has now agreed to accept most of a tougher ethics package he'd previously resisted — reportedly around 80% of a compromise senators proposed months ago. The new rules include requiring officials to sell conflicting holdings or place them in a blind trust, giving state attorneys general enforcement power, and removing any expiration date on the restrictions.
Will It Pass?
Advancing the bill needs 60 votes, so Republicans need real Democratic support since a couple of GOP senators may vote no too. Some Democrats say the concessions still aren't enough; others seem open to letting it move forward. Banks and crypto firms are also lobbying hard over separate stablecoin provisions.
Why It Matters
If passed, this would be one of the biggest financial laws in years — and the ethics fight highlights the unusual situation of a sitting president with major personal stakes in the industry he's regulating.