Trump presses Senate to advance stalled cryptocurrency market bill

President Donald Trump urged Senate lawmakers Wednesday to pass the Clarity Act, a proposed framework for regulating cryptocurrency and defining which digital assets are securities or commodities. He said the legislation would help the United States compete with China and support innovation.

The bill remains stalled in the Senate over partisan ethics provisions. It includes consumer protections, including funding for anti-fraud efforts and resale restrictions for insiders. The Senate is expected to consider the measure after returning from recess Sept. 15.

The legislation has drawn opposition from Democrats, who cite concerns about Trump’s financial interests in cryptocurrency ventures and argue that the bill does not adequately protect investors, the financial system or national security.

Read the full story at Spectrum News.