Trump Reiterates Call for Clarity Act as Crypto Market Regulation Hurdles Remain

President Donald Trump has renewed his call for the Senate to pass the Clarity Act, a bill aimed at regulating the crypto market. In a post on Truth Social, Trump urged passage 'in honor of Senator Lindsey Graham, a big supporter' and warned that China wants control of the sector.

The CLARITY Act passed the House with a bipartisan vote of 294-134 in July 2025 and cleared the Senate Banking Committee 15-9 in May. It needs 60 votes to clear the Senate floor. Senator Cynthia Lummis is leading the push for the bill, with updated text expected shortly.

Trump framed the bill as critical to keeping the United States ahead in cryptocurrency and artificial intelligence, as competition from China intensifies. The President has previously rejected concerns over his family's crypto ventures, saying 'there's nothing illegal, there's nothing wrong with it.'