Senate Dems should accept the victory they won on Trump's crypto limits: White House
The White House is urging Senate Democrats to accept the Clarity Act, which includes new ethics restrictions on cryptocurrency activities for government officials. While the administration argues these concessions are unprecedented, critics like Senator Elizabeth Warren contend the bill is insufficient to prevent conflicts of interest regarding President Trump's crypto ventures.
Why it matters
The debate underscores the ongoing tension between legislative efforts to regulate digital assets and the complex ethics challenges posed by presidential business interests.
Weak or not, the president's concessions would allow the law to tell him what he can't do in the crypto industry, effectively acknowledging that limiting his multi-billion-dollar business is an appropriate ethics measure. Republicans and the White House are reeling to see that concession rebuffed.
It's "exactly what the Democrats have asked for," White House crypto adviser Patrick Witt told CoinDesk. Trump agreed "to subject himself to restrictions on conduct. No other president has done that," Witt contended, and now Democrats are demanding more enforcement powers against Trump.
"I'm sorry, but you don't get to hit two home runs with one swing of the bat," Witt said in an interview with CoinDesk TV.
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