Trump wants Senate to pass a "fair" CLARITY Act. Odds of passage have fallen sharply. SEC, CFTC moves coincide with the push.
Alpha Score of 35 reflects weak overall profile with weak momentum, weak value, poor quality, moderate sentiment.
President Donald Trump urged Congress on August 19 to pass a "fair" version of the CLARITY Act, speaking at a White House event alongside executives from Coinbase, Gemini, Ripple, and Chainlink Labs. The bill would keep the United States ahead of China in crypto innovation, Trump said. He called the measure "very bipartisan."
Coinbase CEO Brian Armstrong told the crowd that passing the law would lock in current crypto policies and prevent them from being reversed later. He described the bill as a genuine compromise between parties.
The CLARITY Act would split oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would also set rules for exchanges, brokers, and custodians.
The House passed its version of the bill in July 2025 by a vote of 294 to 134. The Senate Banking Committee later approved it. No floor vote has happened yet.
Democrats want limits on crypto holdings for senior officials in all three branches of government. That includes rules that could affect Trump's own digital asset ventures. Negotiators also disagree on how to treat decentralized finance protocols. Rules covering stablecoin rewards matter to Coinbase, which earns revenue from USDC trading activity.
Republicans hold 53 Senate seats, short of the 60 votes needed to pass the bill. Democratic support is required before lawmakers leave for the November elections.
A crypto.news analysis from August 18 found that Polymarket's odds of passage fell from 82% in February to under 20% by mid-August. Galaxy Digital cut its own estimate to 10% on August 14.
SEC Chairman Paul Atkins linked the agency's new crypto proposal to the need for congressional action. The plan gives entrepreneurs more certainty to raise money using digital assets, he said. The SEC's proposal would create two funding paths for crypto offerings. One allows up to $5 million raised over four years. The other allows up to $75 million over 12 months.
Atkins said the SEC cannot rewrite the legal line between securities and commodities on its own. Only Congress can grant the CFTC full authority over spot digital commodity markets.
The Treasury Department is also implementing the GENIUS Act, signed by Trump in July 2025. Its stablecoin rules cover issuer authorization, reserves, and disclosure requirements.
The CFTC held its first Innovation Advisory Committee meeting on August 20, one day after the White House event. Executives from Coinbase, Ripple, Kraken, Anchorage Digital, and Grayscale took part. The three-hour meeting covered digital assets, artificial intelligence, and prediction markets. The committee can advise the CFTC. It cannot write rules or take enforcement action.
Public comments tied to the meeting can be submitted through August 27 and will become part of the official record.
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