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Trump Urges Congress to Pass 'Fair Version' of Clarity Act

Guavy AI Editorial Team
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US President Donald Trump has urged Congress to pass the 'fair version' of the Clarity Act, which would bring clearer definitions to the growing cryptocurrency sector. The bill aims to define which tokens qualify as securities versus commodities and which agencies have oversight of the sector.

The crypto industry has been backing the Clarity Act, with several top executives speaking alongside Trump at an event at the White House. They include Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, and Kraken co-CEO Arjun Sethi, along with Intercontinental Exchange CEO Jeffrey Sprecher.

The proposed bill has stalled in the Senate due to bipartisan opposition, as many Democrats and some Republicans have said they would not vote for a bill without strong language to ban political officials from profiting off of their crypto ventures.

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