US President Donald Trump has urged the Senate to pass the CLARITY Act, calling it vital for America's future. He warns that China is vying with the US for dominance in digital assets and artificial intelligence.
The CLARITY Act aims to provide clarity on digital asset regulation, clarifying the criteria for distinguishing securities from commodities products. This would eliminate confusion for exchanges, developers, and investors.
Trump sees crypto as a strategic industry that the country must represent instead of giving up to foreign competitors. He links crypto policy to a larger struggle with economic and financial technology and national competitiveness.