Trump urges Congress to pass the Clarity Act at a White House event with execs, including the CEOs of Coinbase and Robinhood; the bill has stalled in the Senate

President Donald Trump pressed Congress to pass digital asset market structure legislation that is a top priority for the industry …

Bloomberg 2026-08-20

Context & Ripple Effects

The Clarity Act had already cleared a Senate Banking Committee step with a proposed division of oversight: the CFTC as the main regulator for most crypto and the SEC for digital securities. The White House event turns that legislative framework into a public priority for Coinbase, Robinhood and the administration.

The bill's path has been complicated by a proposed Trump crypto-divestment addendum and a delayed Senate vote. That makes the presidential push consequential as political pressure, but not a resolution of the Senate dispute.

First-order effects

Coinbase and Robinhood gain a high-profile White House forum for their preferred market-structure legislation while the Senate remains the immediate gatekeeper.
Senate negotiators face renewed pressure to reconcile the bill's regulatory framework with provisions addressing Trump's crypto businesses.

Second-order effects

The CFTC and SEC must continue operating without the clearer jurisdictional split contemplated by the committee-approved bill, prolonging uncertainty for digital-asset firms.
Industry lobbying is likely to concentrate on the Senate's ethics and divestment dispute, rather than solely on the agencies' respective roles.

Third-order effects

If Congress resolves the conflict, US crypto oversight would move toward a statutory division between commodities-style and securities-style regulation; if it does not, market-structure policy remains tied to presidential-conflict safeguards.
The episode places crypto's push for institutional legitimacy alongside demands that rules apply credibly to politically connected market participants.

The trend: Crypto market-structure legislation is becoming a test of whether industry-backed regulatory clarity can advance alongside enforceable conflict-of-interest safeguards.

Discussion

@whitehouse @whitehouse on x
President Trump Delivers Remarks with Technology Leaders https://x.com/...
@eleanorterrett Eleanor Terrett on x
🚨SCOOP: A small group of crypto executives met with Commerce Secretary @howardlutnick ahead of today's White House remarks by President Trump and industry leaders, according to two sources familiar with the meeting. In the room were @brian_armstrong, @cdixon, @bgarlinghouse and
@onemorepeter Peter Smith on x
I'm proud to stand with President Trump as he expands Americans' access to the economic tools they need to thrive, support their families, and build generational wealth. Tomorrow's inaugural meeting of the CFTC's Innovation Advisory Committee is an important step toward
@rapidresponse47 @rapidresponse47 on x
.@tyler and @cameron Winklevoss: “America should lead in crypto and win in markets like prediction markets, and with your leadership and your Administration, you're helping America LEAD.”
@rapidresponse47 @rapidresponse47 on x
.@POTUS: “We need Congress to take the next step by passing a fair version of the CLARITY Act... [which] will open the door to the next wave of innovation and innovators.”
@patrickjwitt Patrick Witt on x
American hegemony rests on three pillars: a lethal military, equal justice under law, and the strength of the U.S. dollar backed by deep, liquid capital markets. Under President Trump's leadership, we are rebuilding our military, restoring fairness in our justice system, and
@rapidresponse47 @rapidresponse47 on x
.@POTUS: “In May, @ChairmanSelig authorized the first-ever true Bitcoin perpetual futures contract on a @CFTC-registered exchange. I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion.”
@rapidresponse47 @rapidresponse47 on x
Chainlink CEO @SergeyNazarov: “What @ChairmanSelig and @SECPaulSAtkins are doing, and @POTUS has enabled through his leadership, is actually working.”
@senmccormickpa Senator Dave McCormick on x
Exactly right, @POTUS. Now let's get the CLARITY Act to the Senate Floor—and get it passed.
@rapidresponse47 @rapidresponse47 on x
.@POTUS: “Under the Crooked Joe Biden Administration, the spirit of innovation that built America was under serious attack like never before — and nowhere was that more true crypto and other new financial technologies.” NOT ANYMORE!
@rapidresponse47 @rapidresponse47 on x
Robinhood CEO @vladtenev: “We look forward to working together to expand ownership, build the next generation of capital markets, and ensure America leads the way.”
@rapidresponse47 @rapidresponse47 on x
Coinbase CEO @brian_armstrong: President Trump recognized millions of Americans felt disenfranchised by the prior Administration and he committed to making America the crypto capital of the world — and he delivered on that promise. An incredible amount of progress has been made.
@rapidresponse47 @rapidresponse47 on x
Kraken CEO @arjunsethi: “All we're trying to do is make sure that everyone in America has the ability to succeed in the same way that we did.”
@billkingtm Bill King™ on x
a few years ago I was preparing to provide deposition in kraken's case against the SEC today, @arjunsethi is talking about fixing the money to fix the world (at trump speed) next to the president proud of this team and and excited for what the future holds 🐙
@brian_armstrong Brian Armstrong on x
Vision board: 1. Strong bipartisan vote on CLARITY Sep 15th 2. Uptober 3. Next crypto bull run begins Just as the prophecy foretold
@rapidresponse47 @rapidresponse47 on x
.@POTUS: “We're delighted to welcome some of our nation's brightest minds in finance, crypto, and technology ahead of the first-ever meeting of the @CFTC's Innovation Advisory Committee... The people in this room are ensuring that the future of commercial markets is pioneered and
@rapidresponse47 @rapidresponse47 on x
.@POTUS: “We're ensuring that America remains the undisputed leader not only in Bitcoin and crypto, but also technologies like prediction markets, artificial intelligence, and much more.”
@rapidresponse47 @rapidresponse47 on x
NYSE Chairman Jeff Sprecher: “Your trade policies of fair trade to bring back jobs and businesses from overseas, your energy dominance policies to fuel the next generation of technology in the United States, your Big, Beautiful Bill that created incentives for investments, has
Rob Nichols Rob Nichols on linkedin
To deliver on the promise of digital assets requires clear and consistent rules of the road. Read my CoinDesk op-ed on why ABA urges the Senate …

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