Crypto bill ethics provision could let Trump defer millions in taxes: Bloomberg
Quick TakeSens. Thom Tillis (R-N.C.) and Ruben Gallego (D-Ariz.) sent Trump ethics language last week requiring him to divest from crypto-related businesses, Bloomberg reported Thursday.That provision is now critical to passing the first comprehensive federal crypto regulation. President Donald Trump is reviewing ethics language in a bid to pass broader cryptocurrency legislation — which could result in a personal tax benefit for himself. Sens. Thom Tillis (R-N.C.) and Ruben Gallego (D-Ariz.) sent Trump ethics language last week requiring him to divest from crypto-related businesses, Bloomberg reported on Thursday, citing people familiar with the matter. That divesture could mean that Trump would not have to pay federal taxes on his gains for years, or potentially ever, and could be worth millions of dollars in tax savings, according to Bloomberg. That ethics language is now critical to passing the Clarity Act, the first comprehensive federal crypto regulation. Democrats have long pushed for stronger rules addressing Trump‘s crypto holdings, including the TRUMP and MELANIA memecoins launched days before his inauguration and his family’s World Liberty Financial venture. According to Bloomberg, the latest language also allows state attorneys general to enforce the ethics provision, which is a change some senators have been advocating for. Earlier drafts, including the









