President Donald Trump has backed stronger ethics restrictions in a major cryptocurrency bill after lawmakers demanded tighter safeguards around financial conflicts. The revised approach would expand enforcement beyond the Justice Department and place new limits on officials with substantial crypto-related holdings. That shift could prove crucial as senators prepare for a key vote on the legislation this week.
Compromise clears hurdle
Republican Sen. Thom Tillis and Democratic Sen. Ruben Gallego had pushed for broader enforcement powers after arguing the bill’s original ethics language was too narrow. A senior GOP aide said Trump ultimately accepted roughly 80% of their proposal.
Under the revised plan, state attorneys general would gain authority to take action in certain cases involving prohibited digital assets. They could also pursue crypto exchanges that make restricted tokens available for trading.
Another measure would target major financial interests held by public officials. Anyone covered by the rule with a significant stake in a company issuing cryptocurrency would have to sell that interest or move it into a blind trust. The bill already included a ban preventing federally elected officials, their spouses and federal judges from launching digital assets.
Senate vote nears
Tougher provisions emerged after Tillis and several Democrats raised concerns about possible conflicts linked to Trump’s crypto holdings. Their support is considered important for moving the wider legislation forward.
White House officials had previously resisted giving state attorneys general a larger enforcement role. Concerns centred on the possibility that officials from either party could use those powers against political opponents.
Trump’s decision marks a notable concession given his strong support for the crypto sector and his ambition to make the United States a global cryptocurrency hub. With a key Senate vote set for Tuesday, the ethics compromise could help remove one of the biggest obstacles facing the bill.
