Trump Calls for a "Fair" CLARITY Act President Donald Trump used a Wednesday White House press conference to urge Congress to pass what he described as a fair version of the Digital Asset Mar
President Donald Trump used a Wednesday White House press conference to urge Congress to pass what he described as a fair version of the Digital Asset Market CLARITY Act. Trump convened leaders of the crypto industry and their regulators to the White House, praising them for "ensuring that the future of commercial markets is pioneered and perfected right here in the USA."
The CLARITY Act would create a federal rulebook for issuing, trading, and holding digital assets, dividing oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, setting standards for exchanges and other intermediaries, and defining how decentralized-finance developers and protocols would be treated.
Its primary goal is to end the SEC's regulation through enforcement by establishing exactly which digital assets are securities and which are commodities.The bill also includes roughly $150 million for anti-fraud measures and imposes resale restrictions on insiders to prevent pump-and-dump schemes.
The bill has had a bumpy road through Congress. The House approved it on a 294-134 bipartisan margin on July 17, 2025, with more than 70 Democrats crossing the aisle.The Senate Banking Committee then advanced the CLARITY Act in May 2026 by a vote of 15-9. However, the legislation has since stalled. The bill is deadlocked in the Senate because of partisan ethics provisions.
Coinbase CEO Brian Armstrong has emerged as one of the bill's most vocal advocates. Armstrong portrayed the CLARITY Act as a bipartisan breakthrough that could strengthen consumer protections, law enforcement authority, and American leadership in digital assets. He has argued the bill could secure more than 60 Senate votes. Reaching that threshold requires all voting Republicans plus at least seven Democrats.
Armstrong acknowledged the Senate's failure to move the bill before recess, calling it "disappointing," but said the industry was "closer than we've ever been" and urged lawmakers to "finish the job in September."
Democrats argue the bill in its current form falls short on ethics, pointing to a White House-backed provision that bans federal officials from issuing or sponsoring new digital assets while exempting existing ones, including crypto held by Trump and his family. Trump previously urged lawmakers to advance the bill following the death of Senator Lindsey Graham.
The Senate is expected to take up the legislation when it returns from recess in September.When senators return, the remaining question will be whether negotiators used the recess to find the 60 votes needed to pass it.
Sources:Spectrum News: Trump urges Congress to pass the Clarity ActForbes: Crypto's Landmark CLARITY Bill Is Running Out Of TimeCryptoSlate: CLARITY Act headed for a 60-vote Senate showdown in September
