As a researcher following the crypto landscape, I noticed a really interesting reaction to President Trump’s recent statement on Truth Social, where he called the US the “crypto capital of the world.” It seemed to immediately galvanize several key players. We saw a coordinated push for the CLARITY Act’s passage, with support coming from the SEC, Senate Republicans, and even Ripple Labs. It was a surprisingly unified response to a single social media post.
Trump publicly addressed how crypto markets should be regulated for the first time since March. Shortly after, leaders in the crypto industry and members of Congress quickly moved to bring a vote on the Digital Asset Market Clarity Act of 2025 before the full Senate.
Trump’s Crypto Push Sparks Coordinated Washington & Industry Backing for CLARITY Act
Trump claimed that Gary Gensler, the former head of the Securities and Exchange Commission, and others opposed to cryptocurrency were close to wiping out the crypto industry in the U.S.
He vowed to codify a “future-proof” framework safe from “Crypto Haters.”
SEC Chair Paul Atkins announced that the agency is moving away from primarily focusing on enforcement actions. He stated that under the Trump administration, working with Congress, they will prioritize providing clear rules and guidelines for the entire market.
The SEC historically clashed with new technologies and innovation, often driving entrepreneurs to operate in other countries.
That’s now changing.
With President Trump’s direction, and working with others in the administration and Congress, we’re finally providing clear rules for the digital asset market.
— Paul Atkins (@SECPaulSAtkins) May 28, 2026
This support fits with the larger goal of Project Crypto, which aims to regulate blockchain markets within the US and update American cryptocurrency policies.
Ripple CEO Brad Garlinghouse celebrated the outcome as a victory, following years of legal battles with the SEC.
He said the anti-crypto coalition had been defeated by courts, voters, and Trump himself.
The efforts to oppose cryptocurrency – what some called the ‘Anti-Crypto Army’ – ultimately failed, losing out in the courts, with voters, and even due to Donald Trump’s actions. According to Garlinghouse, these efforts were never viable from a legal, political, or policy standpoint.
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Senate Republicans Corral Votes for the CLARITY Act
The U.S. Senate Banking Committee passed the CLARITY Act in a 15-9 bipartisan vote on May 14.
Senator Tim Scott agreed with Donald Trump’s idea of the U.S. becoming a leading center for cryptocurrency. Now, Senator John Thune is in charge of deciding when issues are debated on the Senate floor.
Senator Tim Scott is joining President Biden in an effort to establish the United States as a global leader in cryptocurrency. The Clarity Act aims to provide clear regulations for the crypto industry, protect consumers, and foster the growth of financial innovation within the country.
— U.S. Senate Banking Committee GOP (@BankingGOP) May 28, 2026
Senator Cynthia Lummis used the discussion to emphasize a key part of the bill designed to protect consumers, pointing to the problems that occurred with the FTX collapse as a reason why this protection is needed.
Without the Clarity Act, customers of a failing cryptocurrency exchange aren’t guaranteed to get their money back. They’d essentially become part of the bankruptcy proceedings, alongside other creditors like banks, and would have to compete to recover their funds, potentially incurring significant legal costs.
This new law generally classifies digital tokens as commodities and divides regulatory responsibility between two agencies: the CFTC and the SEC. It also establishes safeguards to protect customers’ assets held by digital currency exchanges.
The bill still needs 60 votes in the Senate and must be aligned with the House version before it can pass. The break in August is the last clear chance for approval, as the upcoming midterm elections could make it much harder.
As a crypto investor, I’m watching closely to see if all this unified talk actually leads to enough support for the bill to pass. How many people get on board will really determine what happens with it over the next couple of years – basically, whether it succeeds or not.
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2026-05-28 23:32