Trump Uses Senator's Death to Pressure Congress: Calls for Passing Cryptocurrency Market Structure Act in Graham's Name
Former President Donald Trump is urging the Senate to pass the Crypto Asset Regulatory Transparency and Innovation (CLARITY) Act as a tribute to the late Senator Lindsey Graham, who passed away last weekend. In a Truth Social post, Trump claimed Graham was a "strong supporter" of the bill, which aims to shift primary regulatory oversight of digital assets from the SEC to the CFTC. However, Graham, who served since 2003, was not on relevant banking or agriculture committees and had no recorded votes or public statements directly advocating for the CLARITY Act, though he did vote for a stablecoin bill in 2025.
The bill faces significant Democratic opposition, with several senators demanding the inclusion of conflict-of-interest provisions related to Trump's connections to various crypto projects. Furthermore, with Graham's death and Senator Mitch McConnell hospitalized, the Republican majority in the Senate has narrowed to 51-47. Passing the CLARITY Act requires 60 votes, meaning substantial Democratic support is needed. The Senate has only four weeks left before its August recess, creating a tight legislative window. Some Republican senators, like Cynthia Lummis, have echoed Trump's sentiment, but the path to 60 votes remains highly uncertain.
marsbitHier 06:10