President Donald Trump has accepted new ethics restrictions he had long resisted, removing the final obstacle to the CLARITY Act. This sweeping cryptocurrency legislation, described as the most significant ever attempted in the US, now faces a decisive Senate vote on Tuesday.
Trump has agreed to a significant portion of a stringent ethics proposal as part of the broader bill. According to Republicans, the President has agreed to a requirement to either divest or place in a blind trust any significant financial interest in an entity that issues cryptocurrencies.
The legislation includes a provision that would allow state attorneys general to sue if federal officials violate ethics rules. These rules specifically bar federal officials from creating assets while they are in office.
These latest concessions could determine whether the long-delayed legislation finally moves ahead.