Senate Republicans unveiled a revised Clarity Act that adds a temporary ban on top federal officials issuing or sponsoring digital assets while preserving key pro-crypto provisions.
White House officials are urging Senate Democrats to accept President Trump's ethics deal on the Clarity Act, with negotiations entering the final stretch before Congress' August recess.
Senate negotiators say the Clarity Act is "almost there" as Treasury Secretary Scott Bessent calls it the "1-yard line," with lawmakers racing to pass the crypto market-structure bill before the August recess.
Coinbase's Ryan VanGrack said the Clarity Act is gaining strong Senate momentum and argued it would bring long-awaited federal rules, stronger consumer protections, and regulatory clarity to the crypto industry.
President Trump will meet senators as negotiations over the CLARITY Act's ethics provisions threaten the bill's chances of passing before the August recess.
White House crypto adviser Patrick Witt will begin military leave later this month as the Senate enters a critical final stretch to pass the Clarity Act before the August recess.
President Trump urged the Senate to pass the CLARITY Act before the August recess as lawmakers face a narrowing window and unresolved political hurdles.
Rep. French Hill urged the Senate to vote on the CLARITY Act before the August recess, arguing the bill would establish a transparent crypto market framework that addresses ethics concerns surrounding President Trump's digital asset ventures.
CFTC Chairman Michael Selig urged Congress to pass the Clarity Act before the August recess, saying the crypto market-structure bill is "so close" despite ongoing disputes over ethics and stablecoin provisions.
SEC leaders Hester Peirce and Paul Atkins said the U.S. is moving toward clearer crypto rules and freer capital markets, with Peirce expecting the Clarity Act to pass this summer and Atkins reaffirming the Trump administration's push to make America the global crypto hub.
