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President Donald Trump urged Congress to pass a “fair version” of the CLARITY Act during an August 19 White House meeting with crypto executives and federal regulators, renewing pressure on lawmakers to advance the stalled market structure bill.
Trump said the legislation would give digital asset companies clearer rules and help keep the United States ahead of China. The bill’s next procedural test is scheduled for September 15, when the Senate is set to consider cloture on a motion to proceed.
Coinbase, Robinhood and Kraken Chiefs Join Trump at White House
Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev and Kraken co-CEO Arjun Sethi spoke alongside Trump at the event. Intercontinental Exchange CEO Jeffrey Sprecher, CFTC Chair Mike Selig, SEC Chair Paul Atkins and White House crypto adviser Patrick Witt also attended.
Chainlink Labs CEO Sergey Nazarov said Trump later met the executives in the Oval Office and asked for their views on the administration’s next steps. Nazarov said the discussion included the CLARITY Act and the remaining steps needed to move the legislation through Congress.
September 15 Cloture Vote Requires 60 Senators
Senate Majority Leader John Thune filed cloture on the motion to proceed before the August recess. The motion is scheduled to ripen at 2:15 p.m. on September 15 and will require 60 votes to advance.
Republicans hold 53 Senate seats, meaning the legislation requires Democratic support if all Republicans back the procedural motion.
Negotiations have included government ethics restrictions, anti-money laundering requirements and the treatment of stablecoin rewards. Many Democrats and some Republicans have called for stricter rules to prevent senior political officials from personally profiting from crypto ventures.
SEC Crypto Proposal Advances as CLARITY Awaits Senate Test
CLARITY would establish clearer boundaries between securities and commodities regulation for digital assets and define the respective roles of the SEC and CFTC.
The SEC separately proposed a crypto-asset framework on August 18 that would create exemptions from securities registration for certain token offerings. The CFTC’s Innovation Advisory Committee is scheduled to discuss crypto regulation, artificial intelligence and prediction markets on August 20.
Trump’s remarks did not establish whether CLARITY supporters have secured the 60 Senate votes needed to advance the bill. The September 15 cloture vote remains the next formal test.
