Bitcoin Prices Rise 10% as President Trump Calls on Congress to Pass Crypto Law
Bitcoin climbed to $72,300 as traders weighed whether Trump’s renewed Clarity Act push can add more fuel to a rally already driven by returning capital.
- Bitcoin rallied to $72,300 on Thursday morning, a day after President Donald Trump urged Congress to pass the Digital Asset Market Clarity Act at a White House crypto event.
- Money previously invested in AI-tied stocks and SpaceX is returning to digital assets as market momentum shifts. Erald Ghoos, CEO of OKX Europe, noted the capital exodus from semiconductors has begun reversing.
- The Commodity Futures Trading Commission is working to bring decentralized exchange Hyperliquid into the US 'in a fully compliant legal fashion.' Trump stated Congress needs to 'take the next step' by approving the legislation.
- Ghoos told CoinDesk the Clarity Act will "blow new life into crypto enthusiasm and trust in the biggest economy in the world." Haider Rafique countered that the market already priced in regulation-inspired optimism.
- The Clarity Act faces a final Senate window next month before the November elections. Trump also paused tariffs on certain Canadian goods on Tuesday, potentially reshaping trade negotiations for the US-Mexico-Canada Trade Agreement.
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Bitcoin rose by 12% in just two days and reached the highest level since early June, while Trump administration and the leaders of the crypto industry are trying to get the adoption of Clarity Act, legislation considered essential for the regulation of the US digital asset market, reports CNBC.
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Bitcoin prices rise 10% as President Trump calls on Congress to pass crypto law
The bill had support from all voting Republicans in the U.S. House, as well as many Democrats.
BTC Price Climbs to $72,000 After Trump Supports Clarity Act Targeting Crypto Deals by Presidents and Congress Members
Bitcoin prices soared above $72,000 per token during premarket hours on Thursday, a day after US President Donald Trump hosted executives from leading cryptocurrency firms at the White House crypto event and urged Congress to pass the proposed Digital Asset Market Clarity Act. The revised act would bar Congress members, the president, the vice president, and certain federal officials from issuing or sponsoring digital assets for profit while in …
What is Clarity Act? Why Trump's push for crypto rules matters and how it is impacting Bitcoin prices
US President Donald Trump has urged Congress to pass the Clarity Act to establish clearer crypto rules. The bill remains stalled in the Senate over ethics provisions. Trump's push boosted Bitcoin above $70,000, while crypto-linked stocks also surged.
Bitcoin rally sparks debate whether Clarity Act is already priced in
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