Trump signs revised crypto ethics provision barring federal officials from issuing cryptocurrency

The measure applies to members of Congress, the president, the vice president and other federal officials, while shifting enforcement to the U.S. Department of Justice instead of state attorneys general.

Summary

Trump signed a revised crypto ethics provision that bars members of Congress, the president, the vice president and other federal officials from issuing cryptocurrency. The revision also gives enforcement authority to the U.S. Department of Justice, rather than state attorneys general, a change that could become a flashpoint because Democrats have argued states should keep some regulatory authority.

Terms & Concepts
  • issuing cryptocurrency: creating or launching a digital token
  • U.S. Department of Justice: federal department enforcing U.S. law
  • state attorneys general: top legal officers of U.S. states