Trump 'Bullish' on Passing Crypto Legislation in Oval Office Meeting

President Donald Trump appeared 'bullish' on passing cryptocurrency legislation in the Oval Office meeting with crypto and traditional finance executives. The Clarity Act, which would regulate the crypto industry for the first time at the federal level, has faced several setbacks over the past year.

A procedural vote is scheduled in the Senate on September 15, but Trump's administration is working to devise a plan to get the bill through Congress as soon as next month. Several executives from companies such as Nasdaq, Robinhood, and Kraken attended the meeting and expressed optimism about passing the Clarity Act.

Chainlink co-founder Sergey Nazarov said that the discussion during the Oval Office meeting focused on getting the Clarity Act passed, including soliciting feedback from the attendees. The bill has faced opposition due to concerns over illicit finance, stablecoin rewards, and Trump's growing crypto wealth linked to World Liberty Financial.

The White House did not respond to a request for comment, but Nazarov emphasized that the discussion during the meeting was about what needed to happen to get the Clarity Act passed, rather than addressing ethics or other issues.