U.S. President Donald Trump urged Congress to pass legislation aimed at establishing clearer rules for the cryptocurrency industry. It’s a top priority for industry executives, who had gathered and spoke alongside the president for an event at the White House on Wednesday.
Trump, who has earned more than $1.4 billion from his family's crypto ventures, urged lawmakers to pass a "fair version of the Clarity Act," a bill that crypto companies say would put them on solid legal ground, but has stalled in the Senate with little time left on the congressional calendar.
Several top crypto executives, including Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev and Kraken co-CEO Arjun Sethi, along with Intercontinental Exchange CEO Jeffrey Sprecher, spoke alongside Trump at the event.
Also in attendance were Commodity Futures Trading Commission (CFTC) Chair Mike Selig, Securities and Exchange Commission (SEC) Chair Paul Atkins and White House crypto adviser Patrick Witt.
"Now we need Congress to take the next step by passing the Clarity Act, a fair version of the Clarity Act," Trump said in remarks at the event.
