President Trump waded back into crypto policy this week, posting on Truth Social that his administration will push for a 'future-proof' digital asset market structure — one that can't be gutted by the next administration. The May 27 message is Trump's first public comment on market structure since March, and it lands as the Senate prepares to take up the CLARITY Act, a sweeping bill that would give the CFTC authority over spot crypto markets.
What Trump said
In the post, Trump said his administration will codify a market structure that 'cannot be undone by future regulators.' He also name-dropped crypto perpetuals — a signal that the White House wants offshore derivatives trading to move onto regulated U.S. venues. That's a shift from the previous administration, which CFTC Chairman Mike Selig said in January 'failed to create an onshore pathway for those products.'
Trump's January 2025 executive order already laid out support for self-custody, public blockchain access, dollar-backed stablecoins, and clearer jurisdictional lines between the SEC and CFTC. The new post is a reminder that the White House hasn't lost interest in seeing that agenda through legislation.
The legislative path so far
The CLARITY Act — formally the Digital Asset Market Clarity Act — passed the House in July 2025 with a bipartisan 294–134 vote. The Senate Banking Committee advanced its own version on May 14, 2026, by a 15–9 vote. That version creates a new category for 'ancillary assets,' requires initial and semiannual disclosures, and includes a 'Regulation Crypto' exemption from SEC registration for some offerings. It also treats digital commodity brokers, dealers, and exchanges as financial institutions under the Bank Secrecy Act.
Trump already signed the GENIUS Act, a stablecoin regulation law, on July 18, 2025, which established the first federal stablecoin framework with 100% reserve backing, monthly public disclosures, and priority claims for holders in insolvency.
CFTC Chairman Selig's response
Selig jumped on Trump's post almost immediately, stating that America is the 'Crypto Capital of the World.' He's been a vocal proponent of giving the CFTC authority over spot markets for non-security digital assets — a recommendation the White House digital asset working group made in its July 2025 report. That report also directed the SEC and CFTC to clarify rules for registration, custody, trading, and recordkeeping.
Selig's January comments on perpetuals are now getting fresh attention. He called them 'widely used for risk management and price discovery' and faulted the prior administration for leaving them in a regulatory gray zone.
What critics are saying
Not everyone is on board. Critics of the CLARITY Act argue the anti-money laundering provisions are too weak. Some want restrictions on political officials profiting from crypto ventures. Others worry that expanding CFTC authority won't fully address investor-protection concerns — especially if the agency is less experienced than the SEC in handling retail fraud cases.
Those debates are likely to resurface when the bill reaches the full Senate. No date is set yet, but the committee vote in May clears the way for floor consideration this summer.
