President Donald Trump urged the Senate to pass the Clarity Act to honor the late Senator Lindsey Graham.
President Donald Trump called on the Senate to pass the Clarity Act, a landmark cryptocurrency legislation, to honor the late Senator Lindsey Graham. The administration announced the push via a Truth Social post, noting that China and other nations are competing for control over the financial "happening" of digital assets and artificial intelligence. The Clarity Act aims to establish a federal framework for digital asset markets by defining which assets fall under the jurisdiction of the SEC versus the CFTC. While the bill has strong support from the White House and the crypto industry, it faces hurdles in the Senate. Democrats are currently pushing for a bipartisan ethics provision to address potential conflicts of interest for public officials. Despite these negotiations, market predictions suggest a lower probability of the bill passing by the end of 2025. The legislation remains a priority for the administration as it seeks to provide durable rules that can survive changes in future leadership.