Trump Urges Senate to Pass Crypto ‘Clarity Act’ to Keep U.S. Ahead of China

WASHINGTON: (News Desk) – U.S. President Donald Trump has urged the Senate to pass the cryptocurrency-related Clarity Act in honor of the late Senator Lindsey Graham, warning that China could overtake the United States in the digital asset sector.

In a statement posted on his social media platform Truth Social, Trump said the Senate should approve the legislation as a tribute to Senator Lindsey Graham, whom he described as a major supporter.

Trump said that China and several other countries are seeking full control over the growing financial sector of cryptocurrency. He added that these countries are also competing aggressively in the field of artificial intelligence (AI), where the United States currently holds a leading position.

“China must not be allowed to succeed in either of these two important areas,” Trump said, emphasizing the need for the Senate to approve the Clarity Act to maintain America’s advantage in crypto innovation.

The push comes after the death of Republican Senator Lindsey Graham, a close ally of Trump, who passed away on Saturday. His death could make approval of the bill more difficult, as the Republican Party’s already narrow Senate majority would reportedly fall from 47–53 to 47–52. The legislation would require 60 votes in the Senate to become law.

What is the Clarity Act?

The Clarity Act is described as one of the first comprehensive legislative efforts aimed at establishing clear regulatory rules for the cryptocurrency industry. The bill has received support from both the crypto sector and the White House, but it faces opposition and procedural challenges in the Senate.

Democratic lawmakers have called for stricter ethics provisions to be added to the legislation, including rules affecting elected officials such as President Trump, citing concerns over his financial gains from digital currencies.

Major U.S. cryptocurrency companies are backing the Clarity Act, arguing that clearer regulations would increase investor confidence, encourage innovation, and attract more investment into the digital asset industry.