President Donald Trump called on Congress to pass the Digital Asset Market Clarity Act during a White House meeting with crypto and technology executives on Wednesday, saying lawmakers need to 「take the next step」 on crypto market structure.
Trump specifically asked for a 「fair version」 of the bill, language that points to the wording dispute that has kept the measure stalled in the Senate. He described the legislation as a competitive tool, saying it would keep the United States 「ahead of China」 and 「open the door to the next wave of innovations.」
Trump pointed to his digital asset policy record
At the meeting, Trump criticized the previous administration’s enforcement approach and cited several actions from his own record: the strategic bitcoin reserve, the digital asset stockpile, the ban on a U.S. central bank digital currency, and the GENIUS Act.
Top industry and market executives attended
Those in attendance included Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, Robinhood CEO Vlad Tenev, Nasdaq CEO Adena Friedman, Intercontinental Exchange CEO Jeffrey Sprecher, Kraken’s Arjun Sethi, Chainlink co-founder Sergey Nazarov, Blockchain.com CEO Peter Smith, Gemini co-founders Tyler Winklevoss and Cameron Winklevoss, and a16z crypto founder Chris Dixon.
SEC Chair Paul Atkins, CFTC Chair Michael Selig, and White House crypto adviser Patrick Witt were also present.
Senate math remains a problem for the bill
The Clarity Act needs 60 votes in the Senate. Republicans are roughly seven Democrats short, and the bill is set to return to the floor in September after the chamber left for the August recess without holding a procedural vote.
Democratic negotiators want ethics restrictions covering the president’s crypto businesses. That same dispute has held up the bill for months.
Armstrong and Atkins argued for the measure
Armstrong made the industry’s case in the room, calling the bill 「a bipartisan compromise」 and saying it would make the administration’s progress durable for decades.
Atkins tied the SEC’s own crypto proposal this week to the same goal. He said the agency’s rule would give entrepreneurs certainty to raise capital in the United States, while sending the Clarity Act to the president’s desk remains the priority.
CFTC advisory meeting follows on Thursday
The White House gathering came ahead of the first meeting of the CFTC’s Innovation Advisory Committee on Thursday. Its roster includes executives from Kraken, Anchorage Digital, Grayscale, and OKX.
Prediction market operators including Kalshi and Polymarket were not invited to the White House meeting. Politico reported that the administration chose to keep the focus on crypto.