Washington D.C. Goes All-In on Crypto: Trump Pushes Clarity and SEC Rules

Washington D.C.'s summer lull was short-lived as President Trump hosted crypto executives at the White House and pressed Congress to pass a 'fair version' of the Clarity Act. The bill's disputed ethics provisions have stalled negotiations, with Trump arguing they single him out unfairly.

CFTC Chairman Mike Selig framed the bill as protection against 'another Gary Gensler,' warning that if it stalls due to Democratic obstruction, the agency will use existing authorities to establish a crypto regime. The SEC has proposed Regulation Crypto Assets, allowing certain offerings up to $5 million over four years or $75 million annually without full registration.

The CFTC's Innovation Advisory Committee meeting brought together industry leaders from traditional finance and crypto, with Selig stating that passing Clarity is the 'surest way' to prevent another Gary Gensler from targeting individuals and companies in the space.