The bipartisan ethics proposal senators have pitched to President Donald Trump to get landmark crypto legislation over the line in Congress could trigger a significant tax benefit for the president, Bloomberg News reported on Thursday.
The benefit will include the ability to defer capital gains levies on his crypto holdings, the report said, citing people familiar with the matter.
The ethics addendum to the crypto bill, which has yet to be released publicly and is still being negotiated between the White House and lawmakers, includes a provision requiring the president to divest from crypto-related businesses, Bloomberg reported.
The White House did not immediately respond to a Reuters request for comment on the report.
Key Senate Democrats had conditioned their support for the long-awaited bill on a strong ethics provision that would address the ability of political figures, including Trump, to profit from personal crypto ventures.
