Trump pushes Clarity Act at White House crypto meeting

President Donald Trump hosted cryptocurrency executives at the White House on Wednesday and pressed Congress to pass the Digital Asset Market Clarity Act, sending Bitcoin and related stocks higher.

"We need Congress to take the next step by passing the Clarity Act, a fair version of the Clarity Act," Trump said, according to Bloomberg. "It's a very, very powerful structured legislation which will keep us ahead of China, keep us ahead of everyone else." Trump also said the U.S. was at the "very beginning of a revolution" in finance.

Among those joining Trump at the White House, according to Bloomberg, were Coinbase Global CEO Brian Armstrong, Gemini Space Station Inc.'s Tyler and Cameron Winklevoss, Payward Inc. co-CEO Arjun Sethi — whose firm runs the Kraken exchange — and Vlad Tenev of Robinhood Markets. Securities and Exchange Commission Chairman Paul Atkins and Commodity Futures Trading Commission Chairman Michael Selig also attended.

Bitcoin climbed roughly 5% to approximately $71,880 in the aftermath of the meeting, while Ether jumped more than 9%, reaching $2,288.91. Coinbase stock jumped close to 8% in premarket trade Thursday, according to The Wall Street Journal. Strategy shares gained 9.4%, extending a 13% advance from Wednesday, and Mara Holdings rose 5.5%.