It's pretty dumb to require his whole family to get out. What would they do now? Sell all their bitcoin just because Democrats demand them to do so? That's like blackmail.
How is he going to make his whole family do it and how is anyone going to confirm that they did? What about after the bill is signed? Are they allowed to get back in?
To realize the stupidity of this, imagine a situation where no members of parliament are able to vote on the things that they own. You can't decide whether electric cars get pushed if you own one. You can't decide whether foreign companies are allowed to invest in your country if you hold their stock, you can't decide if a local firm gets a government contract if you own their shares and so on.
Let's go deeper. Why is the FED allowed to decide the future of the Dollar while holding it? How can someone holding US bonds, or having a mortgage, adjust rates?
I was a bit confused, but I think your reply perfectly explains what's going on.
But my question is, what does the bill actually contain that makes it seem like it is going to favour Trump?
Like he has said (from the video), he has been in crypto even before this second term in office.
His vision to make the US the leading crypto country was made known during his campaign, and I could remember that. So, it's not as if he just woke up one morning and decided to go invest in crypto. Although, I'm still very much interested in reading the bill.
That aside, why did he have to include China when being asked the question. China's stance on crypto has been very unclear to me. AFAIK, you can own but can't trade, so I don't think there was a competition from that angle all along. The US would have still led, but the Trump factor was an advantage.
But incase there is more to this story than this, i will be glad to do a follow up.