Trump Escalates CLARITY Act Push as China Threatens US Crypto Lead

President Donald Trump urged the Senate on July 13 to pass the CLARITY Act, warning that China and other countries could seize control of cryptocurrency innovation while also challenging America’s lead in artificial intelligence.

The Digital Asset Market Clarity Act would create a federal regulatory structure for digital assets and define oversight responsibilities for the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). It addresses asset classification, issuer disclosures, registration and trading platforms. The House passed its version 294-134 in 2025, including support from 78 Democrats.

The Senate is developing its own market-structure legislation rather than adopting the House bill. The Senate Banking Committee has already advanced its version, while the Agriculture Committee separately approved legislation expanding the CFTC’s authority over digital commodity markets. Lawmakers must still reconcile those efforts before a final measure can move through the full Senate.

Trump opened the post by saying the Senate should act “In honor of Senator Lindsey Graham, a big supporter.” The U.S. senator from South Carolina died Saturday, July 11, 2026, at 71 after a sudden illness. A preliminary report from the D.C. medical examiner said he died of an aortic dissection—a tear in the main artery from the heart—linked to underlying cardiovascular disease.

Whether Trump’s intervention changes the bill’s trajectory now depends on Senate leaders agreeing on final legislative text and bringing the measure to the floor for a vote.