Trump Requests That Congress Pass a Crypto Bill During a White House Event

On Wednesday, U.S. President Donald Trump urged Congress to enact a bill that would provide more precise definitions for the expanding cryptocurrency market. This was a major concern for business leaders who had convened at the White House for an event with the president.

Trump, who has made over $1.4 billion from his family’s cryptocurrency endeavors, called on lawmakers to enact a “fair version of the Clarity Act,” a bill that, according to cryptocurrency companies, would put them on strong legal basis. However, the bill has stuck in the Senate with little time remaining on the congressional schedule.

Trump was accompanied at the event by a number of prominent cryptocurrency executives, including Jeffrey Sprecher, CEO of Intercontinental Exchange, Brian Armstrong, CEO of Coinbase, Vlad Tenev, and Arjun Sethi, co-CEO of Kraken.

Attendees included Patrick Witt, White House cryptocurrency advisor, Paul Atkins, chair of the Securities and Exchange Commission, and Mike Selig, chair of the U.S. Commodities Futures Trading Commission.

In his speech at the event, Trump stated, “Now we need Congress to take the next step by passing the Clarity Act—fair version of the Clarity Act.”

Since taking office again in January 2025, the Republican president has promoted crypto-friendly measures. However, Congress has failed to approve the comprehensive crypto legislation that the industry desires.

The Clarity Act seeks to specify which tokens are considered securities as opposed to commodities and which organizations are in charge of the industry. Executives and analysts claim that in the absence of legislation, regulations will be susceptible to court challenges and the changing political landscape, posing long-term risks for the cryptocurrency sector.