Trump Seeks Bipartisan Support for Crypto Regulation Bill
At a White House crypto meeting on August 19, US President Donald Trump called for Congress to pass a 'fair version' of the Clarity Act. The act would clarify how to classify digital assets and divide responsibility between federal agencies.
The Clarity Act has stalled in the Senate due to ethics concerns and other issues. Trump stated that clearer rules around regulation are necessary for the US to maintain its lead against China and other competitors, aiming to remain the world's leader in Bitcoin and other areas like artificial intelligence and blockchain.
Trump also expressed support for the crypto industry, noting that his administration is focused on creating a system that allows crypto firms to operate without fear. The White House meeting included prominent figures from the crypto space, including Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse.