President Trump Urges Congress to Pass 'Fair Version' of Clarity Act at White House Crypto Meeting
President Trump convened a meeting at the White House with crypto and finance executives, including Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, and Nasdaq CEO Adena Friedman. During the gathering, President Trump called on Congress to pass a 'fair version' of the Clarity Act. This legislation aims to establish federal rules for digital assets and clarify the regulatory authority of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over the industry. The President emphasized that such market structure legislation is crucial for the U.S. to maintain its leadership in commercial markets and innovation, particularly in areas like AI. The Clarity Act is expected to return to the Senate floor in September, though it requires approximately six Democratic votes to reach the 60-vote threshold for passage.