Update (August 19, 8:55 pm UTC): This article has been updated to include comments from Senator Ruben Gallego at the Wyoming Blockchain Symposium.
US President Donald Trump continues to push for passage of a crypto market structure bill as the Senate remains in recess.
At a press conference Wednesday with crypto company executives including Coinbase CEO Brian Armstrong and Gemini co-founders Cameron and Tyler Winkleves, Trump said Members of Congress should pass “a fairer version” of the Digital Asset Market Clarity (CLARITY) Act to keep the US “ahead of China”. The market structure bill, passed by the House of Representatives in July 2025, has been stalled in the Senate for months amid concerns over tokenized equity, stablecoin rewards and potential conflicts of interest for the Trump family with the crypto industry.
Armstrong, who spoke after Trump and US regulatory chiefs, said the bill would make crypto policies in the US “future-sustainable, so it can be sustained for decades and decades.” The Coinbase CEO estimated the bill could have “more than 60 votes” after addressing a cloture motion in the Senate on Sept. 15.
“It’s very bipartisan, I would say,” Trump said after Armstrong’s comments. “A lot of Democrat support.”
The president pressed Congress to pass the clarification in July after the death of Senator Lindsey Graham. Trump said Graham was a “big supporter” of the bill and that Senate lawmakers should advance transparency in his honor.
Trump previously hosted crypto industry leaders at the White House during a summit to address regulations in March 2025 and a July 2025 signing ceremony for the Genius stablecoin bill.
Related: SEC Proposes New Crypto Rules Absent Clarity Act
“I think, unfortunately, what the president means is fair to him,” said At the Wyoming Blockchain Symposium, Senator Ruben Gallego cited ethics language in the bill in response to Trump’s comments about clarity. He added:
“The president is agreeing to certain limitations. It’s not his place to agree. It’s the place for Congress, the Senate and then the White House (…) to decide what level of regulation the president gets.”
The SEC and CFTC are proceeding without clarity
Crypto company executives’ statements to the press has arrived An innovation advisory committee was scheduled to meet a day before the Commodity Futures Trading Commission (CFTC). CFTC Chair Michael Selig said the agency will explore moving forward on crypto regulations at the meeting, as Congress won’t be back in session for another month.
The White House meeting occurred the same week that the Securities and Exchange Commission proposed crypto rules offering companies safe harbors from tokens considered “investment contracts” and some exemptions for issuing tokens.
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