White House Signals Support for Crypto Regulatory Clarity
President Trump has publicly urged the Senate to pass the CLARITY Act, positioning crypto market structure legislation as essential to keeping the United States competitive with China. During a White House meeting with digital asset executives, Trump called for passage of a "fair version" of the bill and stated the administration is working to advance compliant pathways for crypto platforms.
Trump indicated that the CFTC, under Chair Mike Selig, is actively working to bring the perpetual futures platform Hyperliquid into the U.S. under a federal regulatory framework. The signal prompted market movement, with HYPE climbing 20% following Trump's comments, though no formal regulatory plan has been released by the agency.
However, Senator Ruben Gallego warned that a rushed CLARITY Act vote could set legislation back, citing the White House's failure to provide detailed point-by-point feedback on a bipartisan proposal as a September vote approaches. This suggests tension between executive and legislative timelines despite the administration's public backing.
