President Donald Trump is convening key Senate Republicans at the White House this week as lawmakers scramble to finalize the CLARITY Act — a high-stakes crypto market-structure bill that could reshape how digital assets are regulated in the U.S.
Politico reports Trump will meet several GOP senators Thursday to review the bill and the work needed to secure a Senate vote. Ohio Senator Bernie Moreno said attendees would brief the president on “the entirety of the bill” and “its path to success,” adding that Trump has been “very engaged” and “driven the innovation that I think will pay dividends.” Senator Cynthia Lummis, a leading crypto advocate in the Senate, is also slated to attend.
Republican leaders are pushing to pass the CLARITY Act before Congress breaks for the August recess, viewing the current legislative calendar as the best window to act before campaign season consumes Senate business. But several unresolved issues — most prominently ethics provisions tied to the bill — continue to slow progress. Senator Thom Tillis said he hopes a compromise can be reached “by the end of this week.”
As negotiations unfold, Ripple has mounted a public lobbying effort in favor of the bill. Chief legal officer Stuart Alderoty warned that defeating the CLARITY Act would preserve the regulatory gaps that contributed to high-profile failures like the FTX collapse, which left customers unable to access billions of dollars. “A vote against the CLARITY Act is a vote to leave the same unregulated conditions in place to be exploited by bad actors,” Alderoty wrote. Lauren Belive, Ripple’s global co-head of public policy and government affairs, echoed that message, saying the “same regulatory gaps that let bad actors like FTX collapse and wipe out customer funds are still wide open today.”
Under the CLARITY Act’s framework, oversight of digital assets would be split between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Ripple argues that the bill would clarify each agency’s role and require oversight before qualifying digital assets hit the market — a change the company says could prevent future misconduct.
Despite the White House push, markets that trade on political outcomes have pared back the bill’s odds. Polymarket traders currently put the probability of the CLARITY Act becoming law in 2026 at roughly 41%, citing lingering disputes over ethics rules and the short number of legislative days left before the August recess.
Parallel to the Senate’s effort, the House Financial Services Committee will hold a July 17 hearing titled “Building the Future of Finance: How the CLARITY Act Unlocks Innovation.” The session will explore how the bill could bolster U.S. leadership in blockchain and digital assets and will also cover the American Reserve Modernization Act, which concerns a proposed Strategic Bitcoin Reserve. Witnesses are expected to weigh in as Senate Republicans continue to press for a floor vote before the congressional window closes.
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