Former U.S. President Donald Trump is urging the U.S. Senate to pass the cryptocurrency-focused “Clarity Act,” framing the move as a tribute to the late Senator Lindsey Graham, who died unexpectedly over the weekend at age 71. Graham had been a vocal advocate for both the legislation and the broader crypto industry.
In a social media post, Trump emphasized the strategic importance of maintaining American leadership in digital assets and artificial intelligence (A.I.), warning that failure to act could allow China and other nations to dominate what he described as a “major financial development.”
The push comes amid growing uncertainty over the bill’s prospects before Congress adjourns for its annual summer recess. Senate staff are expected to release a revised version of the Clarity Act this week, which reportedly merges proposals from the Senate Banking Committee and expands the document by more than 70 pages—adding enhanced consumer protections.
However, the legislation faces internal disputes, particularly concerning ethics provisions and potential conflicts of interest tied to Trump’s own crypto ventures. Recent disclosures revealed that Trump earned $1.4 billion in income from various cryptocurrency-related businesses in 2025, prompting concerns from several lawmakers.
Despite these controversies, Trump has reiterated his ambition to position the United States as the world’s “crypto capital.” The Clarity Act aims to establish clear regulatory guidelines for digital assets, providing much-needed legal certainty for investors, developers, and financial institutions.
As of July 13, Bitcoin is trading at $62,000.