Author: Turner Wright
Compiled by: TechFlow
TechFlow Insights: U.S. Senator Lindsey Graham passed away last weekend. Shortly after, Trump took to social media to urge the Senate to pass the cryptocurrency market structure bill, the CLARITY Act, "in Graham's name." However, Graham had not directly championed this bill during his lifetime. Meanwhile, the Republican majority in the Senate has narrowed to 51-47, making it significantly harder for the bill to meet the 60-vote threshold required for passage.
U.S. President Trump is pressing the Senate to pass the "Clarity for Digital Assets Act" (CLARITY Act), citing the need to "honor" Senator Lindsey Graham, who passed away last weekend.
In a Truth Social post on Monday, Trump stated that Graham had been a "strong supporter" of the CLARITY Act and called on the Senate to pass it promptly. The Senate has only four weeks left before its August recess, leaving a very short legislative window. Graham died last Saturday at the age of 71.
Caption: Screenshot of Trump's post on Truth Social
However, the reality is that Graham, who served as a senator from South Carolina since 2003, was not a member of either the Banking Committee or the Agriculture Committee in this Congress and had not voted on the CLARITY Act's advancement. He voted in favor of the stablecoin bill, the GENIUS Act, in 2025 but had not publicly expressed direct support for the CLARITY Act.
The Core Controversy of the CLARITY Act
The core of the CLARITY Act is to significantly shift regulatory and enforcement authority over digital assets from the SEC to the CFTC. This is a long-sought outcome by the crypto industry, which has viewed SEC enforcement as overly aggressive.
But resistance from Senate Democrats is strong. Several Democratic senators have explicitly stated they will not vote in favor of the bill unless it includes provisions addressing conflicts of interest between lawmakers and the crypto industry. Democrats are referring to Trump's connections to several crypto projects, including his memecoin and his family's World Liberty Financial.
The Vote Dilemma: How to Clear the 60-Vote Threshold?
With Graham's death and Senator Mitch McConnell hospitalized, the Republican majority in the Senate has shrunk to 51-47. To pass the CLARITY Act, 60 votes are needed, meaning Republicans must secure additional Democratic support.
Cointelegraph reached out to the offices of Senators Tim Scott, Kirsten Gillibrand, and Angela Alsobrooks for comment but did not receive an immediate response.
Senator Cynthia Lummis expressed support for Trump's statement on X on Monday, saying Graham "was passionate about ensuring America leads in all areas, including digital assets." Cointelegraph also contacted Lummis's office seeking clarification on Graham's specific stance on digital assets but likewise received no response.
