Trump Presses Senate to Pass Clarity Bill Amid Fears of Falling Behind China
US President Donald Trump is pushing for swift passage of the Clarity bill in the Senate. The measure, aimed at regulating the cryptocurrency market, has stalled in the upper house since July 2025. Trump sees the bill as crucial for the US to stay ahead of China, a sentiment echoed by industry figures who attended a recent White House news conference.
During the event, Trump called on the Senate to pass a 'fair version' of the Clarity bill. He emphasized the need for bipartisan support and highlighted that the bill has received backing from Democrats. Coinbase CEO Brian Armstrong spoke at the conference, forecasting that the Senate could secure the 60 votes needed for passage if it puts a motion to end debate to a vote on September 18.
The White House's efforts come as regulators are also refining their own rules. The Commodity Futures Trading Commission's Innovation Advisory Committee met just days after the news conference, advancing discussions on crypto regulation. Meanwhile, the Securities and Exchange Commission proposed a separate regulatory plan that includes providing companies with a safe harbour for certain tokens.