US President Donald Trump has called on senators to pass the Digital Asset Market Clarity (CLARITY) Act, dedicating the move to South Carolina Senator Lindsey Graham, who passed away on Saturday at the age of 71.
CLARITY Act and Senate schedule
Writing on Truth Social, Trump described Graham as a key supporter of the CLARITY Act and urged the Senate to advance the bill, which aims to establish a comprehensive framework for digital asset regulation. The Senate has four more weeks in session before the August state work period, making this window critical for legislative progress on crypto regulation.
Graham had served in the Senate since 2003 but was not a member of the banking or agriculture committees during the current Congress and did not participate in any votes to advance the CLARITY Act. He had previously voted in favor of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in 2025 but had not made public statements specifically endorsing the CLARITY Act.
The CLARITY Act proposes shifting the primary authority over digital asset oversight from the US Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC).
Mini dictionary: Commodity Futures Trading Commission (CFTC), a US federal agency that regulates derivatives and futures markets, including certain aspects of digital assets.
However, many Democratic senators have expressed opposition unless the legislation addresses possible conflicts of interest between lawmakers and the cryptocurrency sector. Several have pointed to Trump’s connections to digital asset projects, including his memecoin and family involvement with World Liberty Financial, as examples of these concerns.
Impact of Senate changes
Following Graham’s death and the hospitalization of Senator Mitch McConnell, the Republican majority in the Senate has narrowed to 51-47. This shift increases the need for bipartisan support, as the bill requires at least 60 votes to advance.
| Senate Majority | Pre-Graham’s death | Post-Graham’s death |
|---|---|---|
| Republicans | 52 | 51 |
| Democrats | 48 | 47 |
Several senators contacted for comment—including Tim Scott, Kirsten Gillibrand, and Angela Alsobrooks—did not issue immediate responses to Trump’s remarks regarding the legislation.
Statements from lawmakers
Senator Cynthia Lummis publicly supported Trump’s call to action in a post on X, also honoring Graham’s commitment to keeping the United States a leader in digital innovation. Lummis described Graham as “passionate about ensuring that American leadership stayed at the forefront of everything—including digital assets.”
Senator Cynthia Lummis emphasized Graham’s dedication, noting he was passionate about making sure the United States maintained its leadership, especially in the realm of digital assets.
No statements have yet been received from Senator Lummis’ office clarifying Graham’s exact stance on the CLARITY Act or digital assets.
