Trump Urges Senate To Pass Clarity Act In Honor of Senator Lindsey Graham
Highlights
- Trump said that the Senate should pass the Clarity Act in honor of Senator Graham who was a big supporter.
- He warned that other countries are trying to usurp the U.S. in the crypto and AI race.
- White House crypto advisor Patrick Witt described this week as a critical one for the crypto bill.
President Donald Trump has again called on the Senate to pass the Clarity Act as the crypto bill faces a race against time to become law. The president notably urged them to pass the bill in honor of their former colleague Senator Lindsey Graham, who passed over the weekend.
President Trump Calls on the Senate To Pass the Clarity Act
In a Truth Social post, the president said that the Senate should pass the Clarity Act in honor of Senator Graham, whom he described as a big supporter. The senator had died over the weekend after a brief illness.
The president warned that China and many other countries would like to take complete and total control of this “major financial happening” as well as AI, where he claimed the U.S. is now leading. “Don’t let China win on either subject!!!” he added.
This marks the latest call from the president, urging the Senate to pass the Clarity Act as he seeks to make the U.S. the crypto capital of the world. As CoinGape reported, the crypto bill is one of the major events in the crypto market this week, as the Senate faces a tight deadline to advance the bill before heading into its August recess.
President Trump’s involvement in crypto remains one of the major obstacles to the crypto bill becoming law. Democrats and Republicans have yet to reach a deal on including an ethics provision in the bill. Democrats are pushing for an ethics provision to prevent the president from profiting from crypto moving forwrd. The president notably earned up to $1.4 billion from crypto last year.
“Critical Week” For The Crypto Bill
In an X post, White House crypto advisor Patrick Witt described this week as a critical one for the Clarity Act. He noted that this week also marked the one-year anniversary of the GEIUS Act, which President Trump signed into law last year.
Witt also highlighted how much work has gone into the crypto, but added that they have also lost a lot of time. “We cannot afford to delay any longer,” he said. Meanwhile, it is worth noting that the U.S. House also plans to hold a field hearing for the Clarity Act this week.
Meanwhile, pro-crypto Senator Cynthia Lummis also agreed with President Trump, noting that Senator Graham “was passionate about ensuring that American leadership stayed at the forefront of everything – including digital assets.” She urged her colleagues to pass the crypto bill and send it to the president’s desk.
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