President Donald Trump urged the U.S. Senate to pass the Clarity Act to honor the late Senator Lindsey Graham.
President Donald Trump called on the U.S. Senate to pass the Clarity Act, a landmark piece of cryptocurrency legislation, to honor the late Senator Lindsey Graham. The administration announced that the bill aims to provide a broad policy framework to clarify regulatory gray areas, specifically defining "mature blockchains" and establishing oversight for crypto-spot markets under the Commodities Futures Trading Commission. The bill also includes stablecoin language to define when yield can be paid, a point of contention for banks concerned about deposit levels. While the legislation has broad support from the crypto industry, some Democrats are pushing for stricter ethics guardrails to prevent elected officials from profiting directly from the market. This is particularly relevant as President Donald Trump has reportedly earned over $1 billion from various crypto ventures in 2025. With the Senate facing a thin majority and a looming August recess, the administration is pushing for a timely vote to maintain a competitive edge over other nations.