President Trump urged Congress to pass the CLARITY Act alongside crypto executives. Senator Gallego criticized the administration's role. The Senate vote on September 15 will determine the bill's fate.
Alpha Score of 29 reflects poor overall profile with poor momentum, weak value, poor quality, strong sentiment.
President Donald Trump urged Congress on Wednesday to pass the Digital Asset Market Clarity Act, appearing at a White House press event with Coinbase CEO Brian Armstrong and Gemini co-founders Cameron and Tyler Winklevoss. Trump said the bill was needed to keep U.S. technological competitiveness against China.
The House passed the legislation in mid-2025. The Senate has not voted on it. A procedural vote is scheduled for September 15, when the Senate returns from recess and considers a motion to end debate.
Armstrong said the bill has bipartisan support and could clear the 60-vote threshold needed for cloture. He called a legal framework a "long-term regulatory stability" for companies operating in the U.S.
The legislation has stalled over disagreements on tokenized stocks, stablecoin yields, and potential corporate conflicts of interest. Senator Ruben Gallego, speaking at the Wyoming Blockchain Symposium, criticized the administration's involvement. He said defining regulatory boundaries belongs to Congress and the Senate, not the executive branch.
With Congress in recess, financial agencies have begun structuring independent guidelines. The CFTC convened its Innovation Advisory Committee to evaluate provisional measures for digital asset derivatives. The SEC this week proposed safe harbors and exemptions for token issuance, the agency said in a statement.
White House crypto adviser Patrick Witt, speaking at the SALT conference in Wyoming, said the administration remains committed to the bill's passage. Trump had previously promoted the initiative in July after Senator Lindsey Graham's passing, describing Graham as a key champion.
Paradigm policy director Justin Slaughter said the bill still has a chance despite the delay, though its odds have worsened. He pointed to the scheduled September vote as the next concrete test.
The September 15 Senate vote will determine whether the CLARITY Act advances. If it fails, the bill would likely need to be reintroduced in the next Congress. The White House has said it will continue negotiating with Democrats until the vote.
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