CoinDesk
President Donald Trump told Congress to “take the next step” on the Digital Asset Market Clarity Act at a White House event on Wednesday, calling for a “fair version” of the bill. Flanked by executives from Coinbase, Gemini, Ripple and Chainlink Labs, he said the legislation would help the U.S. stay ahead of China and open the door to a new wave of innovation. The gathering came ahead of the CFTC’s first Innovation Advisory Committee meeting on Thursday. Clarity faces a final Senate window next month and needs 60 votes for passage.
Why it matters
The event tied the administration’s crypto agenda to a market-structure bill that could make policy more durable for digital-asset businesses. Coinbase CEO Brian Armstrong called Clarity a bipartisan compromise that could preserve the administration’s progress for decades. SEC Chairman Paul Atkins linked it to the agency’s new crypto-assets proposal, saying entrepreneurs need certainty to raise capital with digital assets and legal permanence from Congress.
The bill remains unsettled. Language disputes draw pushback from Republicans and Democrats, while Democratic negotiators seek ethics limits related to Trump’s crypto involvement and senior officials’ business ties.
Market impact
For investors, the key signal is that U.S. market structure sits at the center of the administration’s crypto push. Passage would give exchanges and other digital-asset businesses a statutory framework instead of leaving policy to agency action, but the Senate’s 60-vote math has not been tested.
The next checkpoint is the Senate window next month, before a recess carries Congress toward the November elections. Investors will also watch the SEC’s proposed crypto rule, Treasury’s stablecoin approach and the CFTC committee’s first meeting.
Frequently asked questions
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Why does the Clarity Act need 60 Senate votes?
The legislation needs 60 votes for Senate passage, and that vote threshold has not yet been tested.
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When is the Clarity Act’s next Senate window?
The bill faces a final Senate window next month, before another recess carries Congress toward the November elections.
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What ethics issue is complicating the market-structure bill?
Democratic negotiators are seeking ethics limits related to Trump’s crypto involvement and the business ties of senior officials.
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Why did Trump link Clarity to U.S. innovation?
Trump said the legislation would help the U.S. stay ahead of China and open the door to a new wave of innovation.
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How do the SEC and CFTC fit into the Clarity debate?
SEC Chairman Paul Atkins linked the agency’s proposed crypto rule to the need for congressional legal permanence. The CFTC’s Innovation Advisory Committee is holding its first meeting after the White House event.
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