Trump pushes Congress to move on Clarity Act during White House crypto event
President Trump is urging Congress to pass the Digital Asset Market Clarity Act, framing it as essential for maintaining U.S. technological leadership over China. The bill faces a tight legislative window and internal debate regarding ethics limits on the administration's crypto involvement.
Why it matters
The legislation represents a critical test for the administration's ability to codify its crypto-friendly agenda into law before the upcoming elections.
The president — flanked by crypto business leaders from Coinbase, Gemini, Ripple, Chainlink Labs and others — called for "a fair version" of the Digital Asset Market Clarity Act at the gathering, hinting at the continued debate over the language of that "very bipartisan" bill that's been stuck in the U.S. Senate.
"It's a very, very powerful structured legislation which will keep us ahead of China, keep us ahead of everyone else," Trump said. "We'll open the door to the next wave of innovations and innovators."
Trump hosted the event in advance of the new Innovation Advisory Committee meeting for the first time at the U.S. Commodity Futures Trading Commission on Thursday. The committee includes a deep roster of crypto executives, also including the chief executives of such companies as Kraken, Anchorage Digital, Grayscale and OKX, in addition to prominent leaders from the prediction markets platforms and artificial intelligence companies.
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