Trump's Clarity Act Call Lifts Korean Stablecoin Stocks and Virtual Assets

US President Donald Trump's call for swift passage of the Clarity Act has sent Korean stablecoin stocks soaring, along with prices of major virtual assets like Bitcoin and Ethereum.

The bill aims to clarify the regulatory framework for virtual assets in the US, classifying them as securities, commodities, or otherwise, and establishing clear jurisdiction for the SEC and CFTC.

Trump met with industry officials from Coinbase and Ripple at the White House on August 19, urging Congress to pass the Clarity Act, which would help the US stay ahead of competitors like China in the virtual asset field.

Korean stocks tied to stablecoins, such as Hecto Financial, Danal, Kakao Pay, Dozn, and NHN KCP, saw significant gains, with some rising by over 10% on August 20. Bitcoin also rebounded, pushing above the 95 million won level after a 4.40% increase from 24 hours earlier.

The market expects that passage of the Clarity Act would ease institutional uncertainty in the virtual asset and digital payments industries, leading to increased investor confidence.