Trump concedes on ethics rules, clearing the way for major crypto legislation

NEW: Trump concedes on ethics rules, clearing the final obstacle to the CLARITY Act, the most significant US crypto legislation ever, which now faces a decisive Senate vote on Tuesday.

Donald Trump just blinked, and crypto might finally get its law.

The President has conceded on ethics rules, the last big obstacle holding up the CLARITY Act. That's the bill meant to settle, once and for all, who actually regulates digital assets in America. And the ethics fight wasn't a small one. Critics wanted guardrails on officials, including the Trump family, profiting from crypto while writing the rules for it. He was seen this weekend brushing off questions about it.

Now the whole thing goes to a decisive Senate vote on Tuesday, on Capitol Hill. If it passes, this becomes the most significant crypto legislation the United States has ever produced. The industry has spent years and a fortune lobbying for exactly this moment.

So here's what I'd hold in your head. The man with the biggest personal stake in crypto just cleared the path for the law that governs it. Tuesday tells us what that's worth.

This is Angel Manalo, reporting for HIT.