Trump Presses for Crypto Clarity Amid Congressional Holdup
US President Donald Trump has urged Congress to pass legislation aimed at establishing clearer rules for the cryptocurrency industry. He emphasized the importance of passing a 'fair version' of the Clarity Act, a bill that crypto companies say would put them on solid legal ground.
The 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, attended an event at the White House where Trump spoke alongside them.
The Clarity Act aims to define which tokens qualify as securities versus commodities, and which agencies have oversight of the sector. Without legislation, regulations remain vulnerable to shifting political winds and court challenges.