Trump Calls on Congress to Pass Clarity Act for Cryptocurrency Regulation
US President Donald Trump urged Congress to pass the Digital Asset Market Clarity Act, which would establish clear rules for the cryptocurrency industry and prevent presidential conflicts of interest.
The bill aims to end the Securities and Exchange Commission's regulation through enforcement by clearly defining which digital assets are securities and not commodities. It includes consumer protections such as $150 million for anti-fraud measures and resale restrictions on insiders to combat 'pump-and-dump' schemes.
Trump praised the crypto industry leaders and regulators who joined him at the White House, saying they are ensuring that the future of commercial markets is pioneered in the USA. He encouraged Senate lawmakers to pass the Clarity Act, which would keep the US ahead of China and open the door to new innovations.