Trump Backs Crypto Ethics Rules Amid Rising Cryptocurrency Market
BTC edges higher, trading near $77,884, as the broader cryptocurrency market sees gains. Ethereum (ETH) and Ripple (XRP) follow Bitcoin's neutral-to-bullish trajectory, holding key support levels at $2,521 and $1.38.
President Donald Trump has agreed on key ethics provisions in the CLARITY Act, which aims to prohibit public officials from issuing or sponsoring digital assets. The provision empowers enforcement by both state attorneys general and the Department of Justice (DOJ).
The updated language unveiled by Senate Republicans late Sunday secured Democratic support for the bill. Senator Cynthia Lummis stated that a vote against the Clarity Act is not a principled stand against President Trump but rather a vote against implementing tough restrictions on politicians for crypto investments.