Trump backs crypto as Washington scrutiny grows over family ventures
As federal policymakers debate how to regulate digital assets, President Donald Trump publicly describes cryptocurrency as a strong political and financial force. His remarks come as disclosure of crypto holdings linked to his family business intensifies conflict-of-interest questions in Washington.
Highlights
- Donald Trump declares himself a 'big crypto guy' at the launch of Trump accounts, linking crypto backing to political influence and US-China tech competition.
- Trump denies discussions about his family's crypto ventures, asserting his public crypto support is not motivated by personal business interests.
- The Office of Government Ethics discloses significant bitcoin and ethereum holdings connected to Trump's family company, intensifying bipartisan debates over federal crypto regulation and ethics rules.
Trump ties crypto support to politics and competition
The Block reports that Trump makes the comments on Monday during the launch of Trump accounts, tax-advantaged investment vehicles for children under 18. Asked whether bitcoin could be included in those accounts, he does not directly answer but says he is a "big crypto guy," citing both China-related competition and crypto's political influence.Trump says he initially got involved with crypto in part because of politics and because he saw growing money flows into bitcoin and other digital assets as a businessman. He describes the sector as "powerful" and says it has significant staying power.
Ethics debate sharpens around family crypto ties
Trump also seeks to distance himself from his family's crypto ventures, which remain a contentious issue among lawmakers. He says he does not discuss the business with his children and argues his support for crypto is not driven by personal interests.Last week, the Office of Government Ethics releases Trump's financial disclosure report, which the article says shows large bitcoin and ethereum-related holdings tied to his family's crypto company, World Liberty Financial. The disclosure adds urgency to a broader Washington debate as lawmakers from both parties work on legislation to regulate the industry at the federal level and negotiate ethics provisions for presidents, vice presidents, members of Congress and other officials.
Our earlier report on the launch of Trump Accounts outlined how the federally backed, tax-advantaged program allows families to enroll U.S. children under 18 and provides a one-time $1,000 Treasury deposit for eligible children born in 2025–2028. We also noted that parents and sponsors can contribute up to $5,000 per year and that support has been growing through major corporate and philanthropic cash-and-stock pledges.
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