Trump Urges Congress to Advance Clarity Act at White House Crypto Event

CEOs from several technology-driven industries met with President Donald Trump ahead of the CFTC’s first Innovation Advisory Committee meeting scheduled for this week.
President Donald Trump urged Congress on Wednesday to “take the next step” by advancing legislation that would establish a regulatory framework for the crypto market.
Speaking at a White House event attended by executives from Coinbase, Gemini, Ripple, Chainlink Labs and other crypto firms, Trump called for lawmakers to pass a “fair version” of the Digital Asset Market Clarity Act. His comments underscored the ongoing disagreements over the bill’s wording as it remains stalled in the US Senate.
Trump described the legislation as a powerful framework that could help the US maintain its lead over China and other countries while creating opportunities for a new generation of innovators and technologies.
Trump held the event ahead of the Innovation Advisory Committee’s first meeting at the US Commodity Futures Trading Commission on Thursday. The committee features numerous crypto industry leaders, including executives from Kraken, Anchorage Digital, Grayscale and OKX, as well as representatives from prediction-market and artificial intelligence companies.

Chainlink Labs CEO Sergey Nazarov told CoinDesk that Trump later invited the executives to the Oval Office for additional discussions and asked for their collective views on what his administration should prioritize.
According to Nazarov, the group also discussed the Clarity Act and the measures needed to move the legislation toward becoming law.
Nazarov said Trump and his advisers viewed the legislation as achievable, identifying only a small number of outstanding issues and several senators who would need to be brought on board.
Trump has played a central role in advancing his administration’s crypto agenda, with several initiatives moving forward. The SEC unveiled its first major crypto-related rule proposal this week, while the Treasury Department has outlined its approach to stablecoins.
At the same time, Trump remains at the center of an ethics dispute surrounding the Clarity Act. Democratic negotiators have pushed for restrictions addressing his crypto interests, as well as potential conflicts involving the personal business relationships of senior government officials.

The legislation is expected to have another opportunity in the Senate next month before Congress enters another recess that would extend into the November elections.
Although the Clarity Act has been positioned for a final vote, lawmakers have yet to determine whether it can secure the 60 votes required to clear the Senate.
Coinbase CEO Brian Armstrong said the bill could make the administration’s crypto policy changes more durable by providing a framework that could remain in place for decades.
Armstrong described the legislation as a genuine bipartisan compromise and said broader cooperation among lawmakers could push the bill across the finish line.

SEC Chairman Paul Atkins said the agency’s latest crypto proposal reinforces the need for permanent legislation such as the Clarity Act.
Atkins told Trump that the SEC’s proposed crypto asset rules would give digital asset entrepreneurs and job creators greater certainty when raising capital in the US.
He added that the agency views congressional passage of the Clarity Act as its most important priority and said the SEC would continue supporting efforts to move the legislation forward.

Trump has previously hosted gatherings of crypto executives, including a major White House summit shortly after returning to office and an event marking the signing of the GENIUS Act, which established a federal framework for stablecoins.
Nazarov welcomed the broad range of companies represented at Wednesday’s meeting, noting that traditional financial institutions, fintech firms and blockchain infrastructure providers were all present.
He argued that the industry needs to communicate the broader economic stakes of crypto policy to policymakers and the public.
Nazarov said critics may underestimate the potential impact of digital assets on the US position as the world’s leading reserve-currency economy. He also praised the current SEC and CFTC leadership for recognizing the importance of maintaining US competitiveness in global financial markets.