Trump Urges Senate to Pass CLARITY Act, Frames Crypto as U.S.-China Competition on July 13

According to Trump's July 13 Truth Social post, the U.S. President urged the Senate to pass the Digital Asset Market Clarity Act, framing cryptocurrency regulation as essential to maintaining American leadership against China. Trump warned that "China, and many other countries, would like to take complete and total control of this major financial 'happening'" and linked the issue to artificial intelligence competition. The House passed its version of the CLARITY Act 294-134 in 2025. The Senate Banking Committee has advanced its own version, while the Agriculture Committee separately approved legislation expanding the CFTC's authority over digital commodity markets. Senate negotiators must still reconcile competing committee priorities before the full chamber can vote.
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