Trump Urges Congress to Advance CLARITY Act

The CLARITY Act aims to create the first federal market regulatory framework for U.S. digital assets, chiefly by defining the respective jurisdictions of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). If enacted, the bill would affect token classification, trading-platform compliance and investor protection. It is also a key part of the Trump administration’s effort to institutionalize cryptocurrency policy.

White House crypto adviser Patrick Witt said officials were pushing to complete the legislation by July 4, 2026. The Senate Banking Committee is expected to hold a markup in May before sending the bill to the Senate floor in June. However, four disputed issues — including stablecoin yield mechanisms and ethics provisions for public officials — still require a bipartisan compromise. The estimated chance of passage has fallen below 50%, while one reporter said the legislative process could make meeting the deadline difficult.

The U.S. Congress is advancing the CLARITY Act to define the respective authority of the Securities and Exchange Commission and the Commodity Futures Trading Commission over digital assets. Disputes including whether stablecoins should be treated as deposits have pitted the banking and crypto industries against each other, with implications for the direction of U.S. crypto regulation.

Trump recently told holders of the $TRUMP memecoin at his Mar-a-Lago estate in Florida that he would prevent the banking industry from obstructing the CLARITY Act and would build a regulatory framework that would be difficult to overturn. The second dinner for major holders drew 297 attendees, including boxing champion Mike Tyson and Tether CEO Paolo Ardoino. The $TRUMP token has fallen 96% from its peak.