Trump's Double Standard: Crypto Rules Don't Apply to Him

When Tulsi Gabbard agreed to serve under Donald Trump, she vowed to sell her crypto holdings. This is typical for new government officials, as ethics rules have long banned owning crypto to avoid conflicts of interest. However, these rules don't apply to the president himself. Before his inauguration, Trump launched a meme coin, signaling a new era where crypto companies aim to let regulators trade crypto. Ethics experts worry that Trump's financial ties to crypto could influence government decisions. Meanwhile, the crypto industry wants to change rules that prevent officials from holding crypto. Ethics watchdogs are concerned about Trump's involvement in crypto. They say it could create a conflict of interest, as he appoints heads of financial regulatory bodies. Trump's entry into the crypto world has even worried some of his fans in Silicon Valley. They fear it might harm the industry's reputation. Most government employees can't own crypto, but presidents and Congress members are exempt from this rule. A Democrat has proposed a law to bar elected officials from holding meme coins. The crypto industry wants to change ethics laws. They argue that officials should be allowed to hold small amounts of crypto. However, ethics law experts argue that this could make officials biased. They also point out that digital assets are riskier than publicly traded stocks. The Office of Government Ethics has emphasized this distinction.