Trump Calls on Congress to Pass Clarity Act at White House Crypto Meeting
Key Points
- Trump called on Congress to pass a 'fair version' of the Clarity Act on Wednesday, August 19, 2026, at a White House meeting with crypto executives.
- Executives from Coinbase, Ripple, Robinhood, Kraken, and other firms attended, including CEO Brian Armstrong and Ripple CEO Brad Garlinghouse.
- The Clarity Act is expected to return to the Senate floor in September and requires approximately six Democratic votes to reach the 60-vote threshold.
Congressional Timeline for Crypto Legislation
The Clarity Act, a sweeping crypto market structure bill that would establish federal rules for digital assets and clarify the SEC and CFTC's respective authority over the industry, is expected to return to the Senate floor in September after lawmakers left for their August recess without holding a procedural vote. Republicans currently need approximately six Democratic votes to reach the 60-vote threshold required for passage.
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Trump said clearer regulation was necessary to keep crypto companies and financial technology development in the United States rather than allowing them to relocate overseas. He criticized the Biden administration's approach to crypto, accusing it of using regulation and enforcement to drive businesses away through what he called "Operation Chokepoint 2.0."
Trump pointed to several policies adopted since his return to office as evidence of his administration's pro-crypto stance, including a strategic Bitcoin reserve, a digital asset stockpile, a ban on a U.S. central bank digital currency, and the GENIUS Act. "The people in this room are ensuring that the future of commercial markets is pioneered and perfected right here in the USA," Trump said.
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During the meeting, Trump also said CFTC Chair Selig is working to bring the decentralized perpetual futures exchange Hyperliquid into the United States in a fully compliant and legal fashion. "I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion," Trump stated. "Working very hard on that. We would really like to see it."
The meeting comes as the SEC on Tuesday proposed rules that would exempt certain token offerings from securities regulations, potentially making it easier for crypto companies to issue tokens and raise money. The gathering also precedes the inaugural meeting of the Commodity Futures Trading Commission's Innovation Advisory Committee scheduled for Thursday.
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Market Outlook
The Clarity Act's September Senate floor return will likely face Democratic opposition absent concessions on regulatory authority or enforcement mechanisms. Passage probabilities depend on whether Republicans can secure six Democratic crossover votes—a threshold last achieved for crypto-related measures in 2023. Market sentiment suggests investors view passage as moderately likely given current administration prioritization, though timing remains uncertain through year-end.
Sources: Decrypt and other international news outlets.
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