Trump Urges Congress to Pass Clarity Act Amid Industry Warning Signs

The stalled Clarity Act has left the SEC and CFTC to shape crypto rules on their own authority, but industry leaders warn that agency action may not last. President Trump called on Congress to pass a 'fair version' of the bill at a White House event attended by SEC Chair Paul Atkins and CFTC Chair Mike Selig.

The Clarity Act would split digital-asset oversight between the two agencies and define when a token is a security versus a commodity. However, it remains stalled in the Senate, creating a jurisdictional vacuum that the agencies are filling on their own authority.

Industry leaders expect the SEC and CFTC to push through ambitious rules that help the industry in the short term, but warn of reversal risk if a future administration takes a different approach. A future Democrat-controlled House could scrutinize the current rules, potentially leading to changes down the line.