Bitcoin, crypto shares climb after Trump advocates for Clarity Act

BusinessScience & TechnologyBitcoin, crypto shares climb after Trump advocates for Clarity ActBy Reuters -Aug 20, 2026Add ARY News on GoogleAAResize Cryptocurrency- and blockchain-related stocks surged on Thursday after U.S. President ​Donald Trump urged Congress to pass legislation establishing clear rules for digital ‌assets, following a White House meeting with industry executives. Trump, a vocal cryptocurrency advocate who has promised to make the U.S. the “crypto capital of the world,” on Wednesday called on ​lawmakers to pass a “fair version of the Clarity Act”, an industry-backed ​bill stalled in the Senate. “Trump’s comments yesterday are incrementally positive because ⁠they suggest the White House is putting more direct pressure on ​Congress to get the legislation done,” said U.S. Tiger Securities analyst Bo Pei. Clarity, ​if enacted, would define whether cryptocurrency qualifies as a security or a commodity, clarifying jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission over the ​sector. Industry executives and analysts have said that without legislation, regulations are vulnerable to ​shifting political winds and court challenges. However, many Democrats, and some Republicans, say they would ‌not ⁠support a bill without strong language banning political officials, including Trump, from profiting from their own crypto ventures. President Trump disclosed more than $1.4 billion in earnings from his family’s crypto ventures in 2025. “The concerns around Trump and his family profiting ​from crypto ventures ​are therefore important ⁠and could complicate the negotiations, particularly around ethics and conflict-of-interest provisions,” Pei said. Bitcoin rose 3.8% and crossed the $70,000 mark. ​The world’s largest cryptocurrency has lost about 18% so ​far this ⁠year and remains down about 43% from its record high in October. Ether gained 3.3%, its highest level in over three months. Crypto exchange Co...