President Donald Trump’s Truth Social post calling America the “crypto capital of the world” triggered a coordinated wave of support for the Digital Asset Market Clarity Act of 2025. The SEC, Senate Republicans, and Ripple all pressed for swift passage of the bill, with industry leaders and lawmakers pushing for a full Senate floor vote within hours of the post.
Trump argued former SEC Chair Gary Gensler and what he called the “Anti-Crypto Army” had nearly destroyed the U.S. crypto industry, and vowed to codify a “future-proof” framework. SEC Chair Paul Atkins responded by declaring the agency’s enforcement-first era “over,” stating: “For too long, the SEC was at odds with new technology and innovation, pushing entrepreneurs offshore. That era is over. Under President Trump’s leadership, and alongside colleagues across the Admin and Congress, we are delivering much needed clarity to digital asset markets.”
Ripple CEO Brad Garlinghouse called the moment a vindication after years of SEC litigation against the company. “The ‘Anti-Crypto Army’ was defeated… by the courts… by the voters. And by Trump. It never made policy, legal or political sense,” Garlinghouse said.
The U.S. Senate Banking Committee passed the CLARITY Act in a 15-9 bipartisan vote on May 14. Senate Banking Committee Chairman Tim Scott echoed Trump’s framing of America as the global crypto hub, while Senate Majority Leader John Thune controls floor scheduling.
Senator Cynthia Lummis highlighted a core consumer protection provision in the bill, citing lessons from the FTX collapse: “Without the Clarity Act, if a digital asset exchange goes bankrupt, customers have no guaranteed right to their own assets. They join a creditor line with other Wall Street firms and expensive lawyers and hope for the best.”
The bill defines most digital tokens as commodities and splits regulatory oversight between the CFTC and SEC, while adding custodial protections for customer assets held at exchanges. The legislation still requires 60 votes on the Senate floor and reconciliation with the House version. The August recess represents a realistic deadline before midterm politics could complicate passage.
Source: CLARITY Act Gains Momentum After Trump, SEC, and Ripple Align