Trump Presses Congress for Clarity Act Amid Industry Uncertainty
President Donald Trump has called on Congress to pass a bill that would bring clearer definitions to the growing cryptocurrency sector. The 'Clarity Act' aims to define which tokens qualify as securities versus commodities and which agencies have oversight of the sector.
The Republican president, who has earned over $1.4 billion from his family's crypto ventures, urged lawmakers to pass a 'fair version of the Clarity Act.' This bill has stalled in the Senate with little time left on the congressional calendar.
Several top crypto executives, including Coinbase CEO Brian Armstrong and Kraken co-CEO Arjun Sethi, spoke alongside Trump at an event at the White House. The event also included U.S. Commodity Futures Trading Commission Chair Mike Selig, Securities and Exchange Commission Chair Paul Atkins, and White House crypto advisor Patrick Witt.
Trump has pursued crypto-friendly policies since returning to office in January 2025. However, the sweeping crypto legislation that the industry wants has not yet passed Congress.