President Donald Trump’s negotiators on the U.S. Senate’s crypto market structure bill refuse to sign off on legislation that goes after the president directly for his digital assets business ties — one of the chief points Democrats have demanded in talks over how the U.S. industry should be governed.
Some of the earlier proposals for the ethics provisions in the bill — especially those proposed by Senator Adan Schiff of California — were “completely outrageous,” Patrick Witt, the executive director of the President’s Council for Advisors for Digital Assets, told CoinDesk TV in an interview Tuesday at the Ondo Summit in New York.
“We’ve made clear that there are red lines,” he said. “We’re not going to allow the targeting of the president individually or his family members.”
He said he’s hopeful that Democrats will be pitching more reasonable versions “that feel a little bit closer to something that could ultimately be agreed to.” And he said he thinks a solution will be found.
“But at the end of the day, this is not an ethics bill,” he said.
Source: Trump’s White House won’t tolerate attacks on the president in crypto bill, adviser says