Trump Calls on Congress to Pass 'Fair Version' of Clarity Act at White House Crypto Meeting

President Donald Trump called on Congress to pass a "fair version" of the Clarity Act Wednesday, telling crypto and finance executives at the White House that market structure legislation is the next step in his administration's digital asset agenda.

Trump's comments come ahead of the inaugural meeting of the Commodity Futures Trading Commission's Innovation Advisory Committee on Thursday. CFTC Chair Michael Selig, Securities and Exchange Commission Chair Paul Atkins, and White House crypto advisor Patrick Witt joined Trump at Wednesday's gathering.

"Now we need Congress to take the next step by passing the Clarity Act, a fair version of the Clarity Act," Trump said. "It's a very, very powerful structure legislation which will keep us ahead of China, keep us ahead of everyone else. We'll open the door to the next wave of innovations and innovators."

The Clarity Act, a sweeping crypto market structure bill that would establish federal rules for digital assets and clarify the SEC and CFTC's respective authority over the industry, is expected to return to the Senate floor in September after lawmakers left for their August recess without holding a procedural vote. Republicans still need roughly six Democratic votes to reach the 60-vote threshold.