Trump Backs Clarity Act, Boosting Crypto Stocks
Crypto stocks have surged in premarket trading after US President Donald Trump backed the Clarity Act, an industry-backed bill aimed at giving the cryptocurrency industry clearer rules.
The move came after Trump met with cryptocurrency industry executives at the White House and asked lawmakers to pass a 'fair version' of the Clarity Act.
The Clarity Act would help decide whether different cryptocurrencies should be treated as securities or commodities, bringing more clarity to how cryptocurrencies are regulated in the US.