In a significant development for the nation’s emerging cryptocurrency framework, President Trump has signaled agreement with roughly 80% of a bipartisan ethics amendment attached to a sweeping crypto bill that is set for a key Senate vote this week. The concession, disclosed by a senior Republican aide familiar with the negotiations, reflects a compromise aimed at addressing concerns from both sides of the aisle.
Key provisions of the amended bill
The original draft of the legislation sought to bar all federally elected officials, their spouses, and federal judges from issuing digital assets. While Democrats and some Republicans argued that this restriction did not go far enough to prevent conflicts of interest tied to President Trump’s own crypto holdings, the revised version introduces several new safeguards.
First, the amendment requires any official with a “significant” financial interest in an entity that issues cryptocurrencies to either divest that interest or place it in a blind trust. This move is intended to eliminate any appearance of personal gain influencing public policy.
Second, the bill expands enforcement authority to state attorneys general, allowing them to step in alongside the Justice Department. Although White House officials expressed concerns that state lawyers could weaponize the law for partisan purposes, the compromise includes language that balances federal and state oversight while protecting elected officials from politically motivated lawsuits.
Finally, the amendment permits state attorneys general to sue a crypto exchange if it lists a digital asset that the broader bill ultimately bars. This provision aims to close loopholes that could otherwise undermine the bill’s effectiveness.
Political context and reactions
The bipartisan effort was driven by a core group of Democrats, Sen. Thom Tillis (R‑N.C.), and Sen. Ruben Gallego (D‑Ariz.), among others, who insisted on stronger conflict‑of‑interest safeguards. Their votes are crucial for the bill’s passage, making the President’s concession a pivotal factor in securing the necessary bipartisan support.
Critics from both parties warned that the original language was either too weak or too intrusive. Some Democratic lawmakers argued that the initial provision did not adequately address the President’s crypto wealth, while Republican skeptics feared that granting state attorneys general enforcement power could be exploited against GOP officials.
According to the senior GOP aide, the President’s agreement reflects a pragmatic approach: “We are protecting the integrity of the legislative process while ensuring that the bill remains workable and fair for all stakeholders,” the aide said.
What’s next?
An updated version of the bill, incorporating the new ethics language, is slated for release later Sunday. The Senate is expected to hold a decisive vote on Tuesday, with the outcome likely shaping the regulatory landscape for digital assets across the United States.
The White House has not yet provided an official comment on the amendment, but the administration’s willingness to negotiate demonstrates a commitment to responsible oversight of the rapidly evolving crypto sector.
Stakeholders in the cryptocurrency industry, investors, and the broader public will be watching closely as the legislation moves forward, anticipating how these new ethics safeguards will influence both market behavior and governmental transparency.
Original reporting: WLKY Louisville — read the source article.
