Administration and senators discuss ethics rules for cryptocurrency legislation

The Trump administration has acknowledged that reaching an agreement with Democratic senators on ethics rules for cryptocurrency profits is required for digital asset legislation to pass, people familiar with the talks told Semafor. “There are a lot of people on Capitol Hill who recognize that it’s a gating function,” one of the people said of a deal.

The same source added that the administration now also views the issue as a gating function.

Talks elevated to senior officials The issue has been elevated to senior White House officials, though not to the president. A White House official told Semafor that discussions focus on protecting administration interests, maintaining constitutional separation of powers, and advancing the bill.

Policymakers are also reviewing other issues such as illicit finance. At least one Democratic senator has called for a face-to-face meeting with the president on ethics.

Deal contours remain unclear Potential terms of any agreement are not yet defined. Restrictions on presidents themselves are not expected to affect ventures such as the Trumps’ World Liberty Financial. Restrictions on presidents’ families would have different implications.

“I don’t want to forecast any timeline” for a resolution, the White House official said.