Trump calls for CLARITY Act passage with crypto leaders
Urges US Senate to approve crypto market structure bill to stay ahead of China.
1Trump's collaboration with crypto industry
US President Donald Trump held a press conference with Coinbase CEO Brian Armstrong and Gemini founders Cameron and Tyler Winklevoss. Trump called for the approval of the CLARITY Act, which passed the House but has been stalled in the Senate. The bill aims to keep the US ahead of China in the crypto space. Concerns over tokenized equities and stablecoin rewards have delayed the bill for months.
2Bill's content and significance
The CLARITY Act seeks to regulate the structure of the digital asset market. Coinbase CEO Armstrong stated the bill would shape US crypto policies for decades. The Senate vote on September 15 is expected to garner over 60 votes. Trump emphasized bipartisan support, noting many Democratic senators back the bill.
3Trump's previous crypto initiatives
In March 2025, Trump hosted a summit with crypto industry leaders. He also attended the signing ceremony for the GENIUS stablecoin bill in July 2025. Following Senator Lindsey Graham's death, Trump urged passing the CLARITY Act in his honor. Graham was a key supporter of the bill.
4Opposition views
Senator Ruben Gallego criticized Trump's 'fair' remarks at the Wyoming Blockchain Symposium. Gallego implied the bill's ethics language could serve Trump's interests. He also highlighted unresolved potential conflicts of interest between the Trump family and the crypto industry.
5Regulators' approach
The SEC proposed new crypto rules in the absence of the CLARITY Act. The proposal includes safe harbor provisions for tokens not treated as 'investment contracts' and certain exemptions. The CFTC will discuss crypto regulations at an upcoming meeting, as Congress remains in recess.
6Senate's stance
Despite passing the House in July 2025, the CLARITY Act faces delays in the Senate. With Congress on break for another month, the bill's consideration may be postponed. CFTC Chair Michael Selig mentioned advancing regulations without waiting for Congress.
7Global crypto competition
Trump stressed the CLARITY Act is crucial for maintaining US competitiveness against China. China has made significant strides in crypto mining and blockchain technology. Accelerating regulatory frameworks is essential for the US to retain its leadership in this field.
8Industry expectations
Crypto leaders hope the CLARITY Act will provide a long-term legal framework. If passed, clearer rules for US crypto companies could boost investor confidence and foster industry growth.