White House adviser defends President Trump's cryptocurrency relationship after the defeat of the Bribery Clarification Act

President Trump had agreed to accept two unprecedented ethics clauses, according to sources. In addition to ultimately complying with a requirement that Trump sell his $ cryptocurrency in assets or place them into blind trusts, White House officials said the White House was prepared to make concessions by agreeing to prosecute state attorneys general for federal government failure to effectively oversee moral misconduct.

"This is without a doubt the most profound, impactful, rigorous and binding ethical clause that any president has ever agreed to", said Powell.

He noted that it is ironic for Democrats to accuse Trump of presiding over digital asset while running the empire of cryptocurrency and creating an undue conflict of interest, as many senators on the Senate Banking Committee own shares themselves and frequently trade in financial services companies under their purview.

Witt's core mission is to push the Bribery Clarification Act into law, a prospect that suffered a major blow last week when the Senate failed to advance it. He hinted on Tuesday at CoinDesk's policy and regulatory event that the end-of-year so-called lame duck congressional session was not a work priority, with current core tasks shifting toward federal regulators such as the SEC.