Trump Push Spurs SEC, Senate and Ripple on CLARITY Act

President Donald Trump’s Truth Social post calling the United States the “crypto capital of the world” prompted the SEC, Senate Republicans and Ripple to urge a rapid Senate floor vote on the Digital Asset Market Clarity Act of 2025, known as the CLARITY Act. The post was Mr. Trump’s first public comment on crypto market structure since March and drew coordinated responses within hours.

Mr. Trump accused former SEC Chair Gary Gensler and an “Anti-Crypto Army” of damaging the U.S. crypto industry and pledged to codify a regulatory framework he described as future-proof. SEC Chair Paul Atkins responded on X, writing that the agency’s “enforcement-first era is over” and that the administration and Congress are delivering clarity to digital asset markets.

The Senate Banking Committee approved the CLARITY Act in a 15-9 bipartisan vote on May 14. Committee Chairman Tim Scott used similar language to the president, calling the bill a way to make the United States a global center for crypto trading and to provide “clear rules of the road.” Senate Majority Leader John Thune controls the timing for a full-floor vote.

Senator Cynthia Lummis highlighted consumer protections in the bill, citing the FTX bankruptcy as an example of why new rules are needed. She pointed out that, without the bill, customers of a failed crypto exchange can end up in the same creditor line as large financial firms and lack a guaranteed right to recover assets. The CLARITY Act would classify most digital tokens as commodities, split oversight between the Commodity Futures Trading Commission and the SEC, and require custodial protections for customer assets held by exchanges.

Ripple and Chief Executive Brad Garlinghouse welcomed the renewed push. Garlinghouse posted on X that the moment was a vindication after years of litigation with the SEC, writing that the “Anti-Crypto Army” had been defeated by courts, voters and Mr. Trump. Industry backers said the bill is intended to encourage blockchain trading and services to operate in the United States.

The measure still faces procedural hurdles. It must win 60 votes in the Senate to overcome a filibuster and be reconciled with a House version before reaching the president’s desk. Supporters have identified the August congressional recess as a working deadline for passage. Lawmakers, regulators and market participants are watching to see whether the coordinated endorsements will produce the supermajority needed for final approval.