- The US Senate is expected to vote before August 10 on the CLARITY Act, a Republican-backed bill to establish market structure rules for digital assets.
- Democratic senators oppose the bill without ethics provisions addressing President Trump’s crypto ties and $1.4 billion in 2025 earnings.
- The bill needs 60 votes to pass, requiring Democratic support, while the death of Senator Lindsey Graham leaves Republicans with a 52-47 majority.
The US Senate is expected to vote before August 10 on the Digital Asset Market Clarity (CLARITY) Act, a Republican-backed bill to establish market structure rules for digital assets, as Democratic lawmakers push for ethics provisions addressing President Trump’s crypto ties. Senators Chris Murphy, Jeff Merkley, and Chris Van Hollen, alongside actor Ben McKenzie, spoke at a press conference opposing the bill, arguing it fails to address what they called “Trump’s crypto corruption.”
“There is no reason to pass a new regulatory system for crypto if this system does not stop Trump’s corruption of the entire industry,” Murphy said, as shown in a video of the event. The CLARITY Act passed the House almost a year ago as part of the Republicans’ “Crypto Week” agenda and needs 60 votes to pass the Senate. Senator Elizabeth Warren has also called for the legislation to address what she termed “brazen financial corruption” following Trump’s disclosure of $1.4 billion in crypto earnings in 2025. Despite Democratic pushback, the bill has support from the National Organization of Black Law Enforcement Executives and the Federal Law Enforcement Officers Association.
Senate Majority Leader John Thune pledged to hold a vote before the chamber’s August 10 state work period, according to Bloomberg. Trump urged senators to pass the bill “in honor of” Senator Lindsey Graham, who died over the weekend, though Graham had not publicly supported the legislation. The senator’s death leaves Republicans with a 52-47 majority, and Senator Mitch McConnell’s hospitalization could reduce the party’s present votes to 51. Senator Cynthia Lummis said lawmakers would release the bill’s text “in the next few days.”
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