Trump's crypto riches loom over Clarity Act talks to ban conflicts for U.S. officials

It's still unclear what Trump will be willing to do to make Clarity happen. But he did suggest on Monday that it remains a personal priority.

After news emerged that his staunch Senate ally Lindsey Graham had died suddenly, Trump said on Monday that Clarity should be passed in his honor, though the lawmaker wasn't involved in the negotiations. Senator Cynthia Lummis, the Republican crypto advocate who leads the Senate Banking Committee's digital assets subcommittee, added her agreement.

Trump's latest endorsement of Clarity belies his other recent legislative stance in which he refused to sign the bipartisan housing affordability bill, saying he wouldn't sign any bills until lawmakers advance his priority: legislation that demands more robust voter identification and proof of citizenship. His calls for the Clarity Act's passage may suggest he's willing to make an exception for crypto.

White House crypto advisor Patrick Witt posted on social media site X on Monday, calling this a “critical week” for the Clarity Act, and noting that it falls on the one-year anniversary of the industry's first major policy bill that regulated stablecoin issuers. He called that timing a “reminder of the incredible amount of hard work that has gone into this bill, but also of the time weve already lost.”