Trump Urges U.S. Senate To Pass Crypto ‘Clarity Act’

U.S. President Donald Trump is urging the U.S. Senate to pass the “Clarity Act” that’s aimed at regulating the cryptocurrency sector.Trump has called for U.S. Senators to pass the Clarity Act as a way to honor of Senator Lindsey Graham, who died suddenly over the weekend at age 71.Graham had been a strong supporter of the legislation and the crypto sector.Trump added in a social media post that the U.S. must not lose ground to China in either digital assets or artificial intelligence (A.I.).He claimed that the U.S. is leading in both sectors and warned that China and other countries would like to control what he called a “major financial development” if Congress fails to act.Trump’s calls on the Senate come as passage of the Clarity Act appears doubtful before Congress takes its annual summer recess.Senate staff are expected to release a new version of the Clarity Act this week.The new draft will reportedly combine proposals from the Senate Banking Committee and add more than 70 pages to the document, including stronger consumer protections.There are also disputes over the crypto legislation’s ethics rules and Trump’s own cryptocurrency business interests.Several lawmakers have expressed concerns over conflicts of interest after it was disclosed that Trump made $1.4 billion U.S. of income in 2025 from various crypto ventures.Trump has vowed to make the U.S. the world’s “crypto capital.” The Clarity Act is expected to clarify the rules and regulations pertaining to digital assets.Bitcoin is trading at $62,000 U.S. on July 13.