POTUS invokes late Sen. Graham in push for CLARITY Act

Republican Sen. Lindsey Graham, 71, passed away over the weekend. On Monday, President Trump pushed for the passage of the CLARITY Act in his honor.

by Summer Lane | July 13, 2026

President Donald Trump on Monday called for the passage of the CLARITY Act, market structure legislation that would crack down on the digital assets landscape and provide a clear regulatory framework.

“In honor of Senator Lindsey Graham, a big supporter, the U.S. Senate should pass the Clarity Act,” President Trump said in a statement posted to social media.

He continued, “China, and many other countries, would like to take complete and total control of this major financial ‘happening,’ as well as A.I., where we are now leading, but where they are fighting hard. Don’t let China win on either subject!!!”

The CLARITY Act would regulate cryptocurrencies and digital assets by dividing oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Currently, digital asset markets are a bit confusing – there is no singular regulatory body that establishes clear guidelines or laws when it comes to the digital assets realm.

“At its core, this is an investor protection bill. It brings digital assets into a clear regulatory framework, where bad actors are held responsible for fraud, manipulation, and abuse,” an FAQ statement from the U.S. Senate Committee on Banking, Housing, and Urban Affairs pointed out.

It continued, “This bill is designed to prevent a future FTX collapse – providing a regulatory framework where investors are informed about material risks, insiders are prevented from manipulating markets, and bad actors are penalized. Clear regulation protects investors — uncertainty does not.”

According to an analysis from the Ave Maria School of Law, the proposed legislation would also set forth very clear rules for exchanges, brokers and trading – as well as protections against central bank digital currencies.

“When we set clear rules, we give entrepreneurs the confidence to start companies, hire workers, and grow right here in the United States,” Senate Banking Committee Chairman Tim Scott, R-S.C., said in a statement discussing digital asset market structure earlier this year.

He added, “We also make it harder for criminals and foreign adversaries to use new technology to rip off Americans or undermine our financial system. After months of serious, bipartisan work, it’s time to move this forward and deliver real results for the American people.”

Photo: Pixabay