Trump Touts Crypto Progress as Bitcoin Hits $71K
US President Donald Trump met with crypto executives and regulators at the White House on Wednesday to discuss the CLARITY Act, which aims to clarify the regulatory framework for cryptocurrencies. The meeting took place as Bitcoin price surged past $70,000, reaching around $71,500 in value.
Trump urged Congress to pass the pending bill, saying it would 'keep us ahead of China.' He also touted his administration's pro-crypto record, including the Strategic Bitcoin Reserve and the GENIUS Act stablecoin law. When asked about the possibility of the government accumulating more Bitcoin, Trump left the door open.
CFTC Chairman Mike Selig said the agency stands ready to implement the CLARITY Act once it becomes law. SEC Chairman Paul Atkins emphasized that passing the bill is 'the most important priority' and pointed to a new rule proposal that would allow crypto projects to raise capital in the US using digital assets.
The meeting brought together major players from the crypto and financial industries, including Coinbase's Brian Armstrong, Robinhood's Vlad Tenev, and Ripple's Brad Garlinghouse. They expressed support for the CLARITY Act, with some highlighting its potential to expand ownership of American assets globally through tokenization.