Cryptocurrency and blockchain-related stocks surged in pre-market trading on Thursday after US President Donald Trump urged Congress to pass legislation establishing clear rules for the digital asset sector, following a White House meeting with industry executives.
Trump, a vocal cryptocurrency advocate who has promised to make the US the “crypto capital of the world”, called on lawmakers to pass a “fair version of the Clarity Act”, an industry-backed bill stalled in the senate.
The act, if enacted, would define whether cryptocurrency qualifies as a security or a commodity, clarifying jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission over the sector.
Industry executives and analysts say that without legislation, regulations are vulnerable to shifting political winds and court challenges.
$BTC $BNB $ETH
Trump, a vocal cryptocurrency advocate who has promised to make the US the “crypto capital of the world”, called on lawmakers to pass a “fair version of the Clarity Act”, an industry-backed bill stalled in the senate.
The act, if enacted, would define whether cryptocurrency qualifies as a security or a commodity, clarifying jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission over the sector.
Industry executives and analysts say that without legislation, regulations are vulnerable to shifting political winds and court challenges.
$BTC $BNB $ETH