Congress debates crypto bill amid Trump conflicts of interest concerns and allies' warnings

Trump's billionaire allies issued a secret warning that a proposed crypto bill could 'hijack' the President's crypto legacy and damage his bottom line. The concerns underscore how volatile the intersection of crypto policy and Trump’s financial interests could be for his political standing.

Separately, lawmakers are wrangling over the crypto bill as critics accuse Trump of conflicts of interest related to the industry. The Trump Organization has increasingly tied to crypto, with critics highlighting the potential for beneficial access or influence as Democrats push to tighten regulations amid ongoing scrutiny. The discussions include the portrayal that Trump may be connected to favorable treatment for the sector, with references to accusations that he is 'selling access.'

Trump had promised a sweeping crypto bill during his 2024 campaign, but Republicans appear to be running out of time to pass such legislation, while courting support from lawmakers across the aisle. The debate centers on balancing industry growth with safeguards, and how the presidency could be affected by the evolving policy landscape around crypto.