Summary
- President Donald Trump urged the Senate to pass the CLARITY Act, a cryptocurrency market-structure bill.
- The CLARITY Act is viewed as key legislation to clarify digital-asset market structure and oversight authority and reduce regulatory uncertainty in the US.
- Market participants are watching whether Trump's remarks will affect the pace of Senate debate over the CLARITY Act.
Forecast Trend Report by Period
President Donald Trump urged the Senate to pass the CLARITY Act, a cryptocurrency market-structure bill.
In a Truth Social post on July 13, Trump wrote that the Senate should approve the CLARITY Act "in honor of my Great Friend, and a Strong Supporter of our Nation, Senator Lindsey Graham."
Trump described cryptocurrency and artificial intelligence as key areas the US must lead. "China and many other Countries are trying to take over this major Financial and High Tech frontier, and they are doing it aggressively," he wrote.
The US is currently ahead in AI, Trump said, but added that competitors are "fighting very hard."
"Do not let China win in either of these two fields," he wrote.
The comments came as Congress continues to debate the CLARITY Act. The bill aims to clarify digital-asset market structure and regulatory oversight, and the industry has focused on it as key legislation that could reduce regulatory uncertainty in the US.
Market participants are watching whether Trump's public push for the measure will affect the pace of Senate deliberations.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.