Trump puts Senate on a 24-day clock to find 60 votes for America’s crypto CLARITY Act rulebook
The White House is pressing the Senate to pass the CLARITY Act before the August recess, framing it as part of the U.S. race with China in crypto and AI. The bill would create a federal crypto market framework, split oversight between the SEC and CFTC, and extend the GENIUS Act’s stablecoin regime. Administration officials, regulators, crypto firms, and Republicans say delay could kill momentum before the midterms. Negotiations are stalled over three main issues: ethics rules for officials with crypto holdings, limits on stablecoin rewards, and legal protections for software developers. Democrats want broad conflict-of-interest restrictions, especially given Trump’s crypto-related income and family ties, while the White House rejects claims of influence. Banks are pushing to tighten stablecoin reward rules, and law enforcement concerns center on developer exemptions. The Senate still lacks a final package or floor vote, and passage likely requires 60 votes, making bipartisan support essential.
