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Trump urges Senate passage of CLARITY Act in September
The administration also reiterated that a strategic bitcoin reserve, created by executive order, prohibits selling seized bitcoin but does not commit to new purchases.
Bitcoin Magazine reports U.S. President Donald Trump urged lawmakers to pass the CLARITY Act at the White House after meeting with crypto executives, framing the crypto market structure bill as a way to keep the United States ahead of China.
Bitcoin Magazine says a vote on the CLARITY Act, previously expected in August, is now set for September. The bill would create a framework for classifying digital assets as securities, commodities, or payment stablecoins.
Trump also hinted that the U.S. may accumulate more bitcoin if regulators recommend it, and he linked the idea to reducing pressure on the dollar.
Bitcoin Magazine notes Trump previously signed an executive order to establish a strategic bitcoin reserve, which bars the government from selling bitcoin it already holds, while not expressly committing to buy additional bitcoin.
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