White House · Donald Trump · CLARITY Act · SEC · US Congress · Decrypt
The SEC unveiled its first crypto-specific rulemaking proposal on Tuesday
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President Trump had a clear message for the crypto execs invited to the oval office: Pass the Clarity Act.
Key facts
- The SEC unveiled its first crypto-specific rulemaking proposal on Tuesday, President Donald Trump hosted industry executives at the White House on Wednesday, and the CFTC convened the inaugural
- Crypto In America reported earlier this week that pressure from both the White House and Wall Street groups contributed to the cancellation
- The White House was concerned that Regulation Crypto Assets and a separate innovation exemption for tokenization could complicate negotiations over the Clarity Act
- President Trump had a clear message for the crypto execs invited to the oval office: Pass the Clarity Act
Summary
In a packed week, Trump hosted crypto executives at the White House and pressed Congress to pass a "fair version" of the Clarity Act—a nod to disputed ethics provisions he says single him out. At the CFTC's inaugural Innovation Advisory Committee meeting, Chairman Mike Selig framed the bill as protection against "another Gary Gensler" but warned that if Clarity stalls over "Democratic obstruction," the agency will use existing authorities to build its own crypto regime, having already directed staff to explore rules. The SEC formally proposed Regulation Crypto Assets—allowing certain offerings up to $5 million over four years or $75 million annually without full registration, plus a conditional safe harbor. The SEC unveiled its first crypto-specific rulemaking proposal on Tuesday, President Donald Trump hosted industry executives at the White House on Wednesday, and the CFTC convened the inaugural meeting of its Innovation Advisory Committee on Thursday.