A revised crypto ethics provision signed by President Donald Trump has been approved, according to The Block, setting a direct ban on federal officials issuing digital assets. The restriction applies to members of Congress as well as the president and vice president. The provision also puts the Department of Justice, rather than state attorneys general, in charge of enforcement, a choice that has triggered criticism from Democrats. Maryland Democratic Senator Angela Alsobrooks said the idea of having the Justice Department enforce the ethics language was “not a serious proposal” and said she would not support the bill if that wording remains in the final text. The provision is described as the last hurdle for the Clarity Act. Debate around it has centered in part on Trump’s own meme coin and his family company World Liberty Financial. A financial disclosure released last month showed Trump received millions of dollars in related income from WLF. The White House has not confirmed the exact wording of the provision, but said it is working with lawmakers to move the bill forward and blamed Democrats for the delay.
A revised crypto ethics provision signed by President Donald Trump has been approved, according to The Block. The measure explicitly bars federal officials from issuing digital assets, including members of Congress, the president, and the vice president.
The provision also assigns the Department of Justice as the main enforcement authority instead of state attorneys general. That setup has drawn objections from Democrats.
Maryland Democratic Senator Angela Alsobrooks said, “Having the Justice Department enforce an ethics provision is not a serious proposal.” She added that she would not support the bill if that language remains in the final text.
The provision is the last hurdle to passage of the Clarity Act. One of the main points of dispute is Trump’s own meme coin and his family company, World Liberty Financial.
A financial disclosure released last month showed that Trump received millions of dollars in related income from WLF.
The White House has not confirmed the exact wording of the provision. It said it is working with lawmakers to advance the bill and blamed Democrats for the holdup.
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