Trump Pushes for Clarity Act as SEC Proposes New Crypto Regulations

President Donald Trump hosted a meeting at the White House on Wednesday to discuss the Clarity Act, a bipartisan bill aimed at clarifying crypto regulations. The legislation has been stalled due to disagreements over ethics provisions.

The CFTC's Innovation Advisory Committee meeting on Thursday saw Chairman Mike Selig emphasize the need for clarity in crypto regulation. He warned that if Congress fails to pass the Clarity Act, the agency will use its existing authorities to establish a regime for crypto asset markets.

Meanwhile, the SEC proposed Regulation Crypto Assets, which would allow certain offerings up to $5 million over four years or $75 million annually without full registration. The proposal also includes a conditional safe harbor for crypto assets once an issuer's essential managerial efforts have ended.