Trump Urges Congress to Pass CLARITY Act

President Donald Trump called on Congress to pass comprehensive cryptocurrency legislation during a White House technology event on August 19, 2026, urging lawmakers to approve a fair version of the CLARITY Act to establish permanent federal rules for digital assets. The appeal comes as the Senate bill faces a critical procedural test requiring 60 votes to advance, with negotiations stalled over several contentious issues.

Trump, joined by executives from major crypto firms including Coinbase, Gemini, and Ripple, described the legislation as a necessary step to maintain U.S. leadership in the digital economy. "It's a very, very powerful structured legislation which will keep us ahead of China, keep us ahead of everyone else," Trump said during the event. "We'll open the door to the next wave of innovations and innovators."

The CLARITY Act would create a regulatory framework for digital assets, formally defining whether cryptocurrencies are securities or commodities and dividing oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The bill would also establish registration pathways for exchanges, brokers, and custodians while...