President Donald Trump will sit down with senators at the White House this week to discuss the CLARITY Act, a crypto bill that has stalled in Congress. Lawmakers are racing to secure a deal before the August recess, according to people familiar with the planning.
White House meeting set
The meeting comes as the CLARITY Act — a bill aimed at clarifying which federal agency oversees digital asset markets — has failed to gain traction in recent months. Trump's direct involvement signals the administration wants to break the logjam. The White House did not release a list of attendees, but the meeting is expected to include key senators from both parties who have been working on the legislation.
Lawmakers race the clock
Congress is scheduled to leave Washington for its August recess at the end of next week. That leaves a narrow window for any legislative action. Supporters of the bill have been pushing for a markup or a floor vote before the break, but procedural hurdles remain. The CLARITY Act has been in limbo since it was introduced last year, caught between competing visions of how to regulate crypto — the SEC's approach versus the CFTC's.
What's at stake
Without a clear regulatory framework, crypto firms have complained of uncertainty and some have moved operations overseas. The bill would give the Commodity Futures Trading Commission primary authority over digital commodities, while the Securities and Exchange Commission would oversee tokens deemed securities. Industry groups have lobbied heavily for the bill, but it has faced opposition from some Democrats who want stronger investor protections.
The meeting this week is the highest-level push yet. Whether it produces a deal before the recess — or just more talk — remains the open question.
