U.S. President Donald Trump announced on Wednesday his intention to solidify a "future-proof digital asset market structure" through legislation. This statement likely refers to the Digital Asset Market Clarity Act (CLARITY) currently under consideration in the U.S. Senate. Making his second weekly appearance on his Truth Social platform, Trump emphasized that this law would prevent "crypto haters" in future administrations from overturning regulations on digital assets. This is according to a report by Cointelegraph.com.
Since its passage by the U.S. House of Representatives in July 2025, the CLARITY Act has faced months of delays in the Senate. This is due to government shutdowns, opposition from crypto and banking industry representatives, and conflicts of interest, including concerns related to the Trump family. Reports indicate that the President and his sons are linked to the World Liberty Financial platform, its USD 1 stablecoin project, and a Bitcoin mining company.
Although the Senate Agriculture and Banking Committees approved the bill in January and May, the document faces further hurdles before being put to a full floor vote. Republicans hold a slim majority in the Senate, so Democratic votes are necessary to pass the law. However, some lawmakers have stated they will not support the bill unless ethics rules are included.
Following Trump's promise to "never abandon crypto," the price of Bitcoin dipped from $74,000 to the $73,000 level. At the time of publication, the price of the largest cryptocurrency by market capitalization was $73,467. Trump's views align with those of Paul Atkins, his choice for SEC Chair.
Additionally, Trump supported the views of CFTC Chair Michael Selig, stating that the regulator has "absolute jurisdiction" over prediction markets like Kalshi and Polymarket. It is worth noting that Donald Trump Jr. serves as an advisor to these platforms. Currently, several state agencies have filed lawsuits against these companies, accusing them of organizing unlicensed sports betting.
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