The dispute has centered on the extent to which political figures and other officials can profit from crypto while in office, a question sharpened by Trump’s memecoins and his family’s stake in World Liberty Financial, which financial disclosures last month showed earned him millions.
The provision was discussed at a July 16 meeting between Trump, Republican Senators Bernie Moreno and Cynthia Lummis, and White House crypto adviser Patrick Witt. The Senate has until early August to vote.
Crypto extended its rally on Monday as the reports circulated. Bitcoin BTC$66,249.44 traded near $66,300, around 3% higher in the last 24 hours, with ether and XRP seeing gains of around 4%. Traders pointed to the rebound in AI and semiconductor stocks, including memory makers Samsung and SK Hynix, as the main driver rather than the legislative news, though the reported ethics breakthrough added to the risk-on tone.