Senate Crypto Counteroffer Would Force Trump to Divest Stakes Above $1 Million
Updated
Updated · POLITICO · Aug 7
Senate Crypto Counteroffer Would Force Trump to Divest Stakes Above $1 Million
3 articles · Updated · POLITICO · Aug 7
Summary
$1 million and 10% are the thresholds in a bipartisan Senate counteroffer that would require Trump and other federal officials to divest crypto-company stakes, with holdings above $15,000 instead needing a blind trust or sale.
The proposal targets firms deriving most revenue from issuing or sponsoring digital assets and could affect Trump's ties to World Liberty Financial, the crypto company he launched with his sons.
State attorneys general would gain power to sue the Justice Department for failing to enforce the ethics rules and to challenge exchanges listing noncompliant assets, a major sticking point in the talks.
Thom Tillis and Ruben Gallego sent the offer to the White House last week, but the Clarity Act remains unresolved and Senate GOP leaders have already pushed an initial vote on the broader crypto bill until after recess.