Trump Seeks Senate Approval of Clarity Act Amid Fears of Chinese Dominance

US President Donald Trump has called on the Senate to pass the CLARITY Act, a bill aimed at creating a comprehensive regulatory framework for cryptocurrencies and digital assets. The move comes as a tribute to late Senator Lindsey Graham, who died over the weekend at the age of 71.

Graham was described by Trump as 'a big supporter' of the bill, but it's unclear what specific role he played in shaping the legislation. The CLARITY Act, formally known as the Digital Asset Market Clarity Act or H.R. 3633, has been backed by major crypto companies including Coinbase, Circle and Ripple.

Trump warned that China and other countries are trying to dominate both the cryptocurrency and artificial intelligence sectors, urging lawmakers not to let the US lose its lead. 'Don't let China win on either subject!!!' he wrote on Truth Social.