Gate News message, April 27 — Donald Trump reaffirmed his support for the CLARITY Act at a private gathering at Mar-a-Lago on April 27, stating he would not allow banks to block crypto legislation. The event, which hosted major holders of the Trump-themed memecoin $TRUMP, underscored the political backing for the bill, though Senate progress remains sluggish.
The CLARITY Act passed the House with strong bipartisan support in 2025 and aims to define how digital assets are regulated in the U.S., splitting oversight between regulators such that some assets fall under securities rules while others are treated as commodities. However, the Senate is moving slowly on the bill, with lawmakers still debating key issues including stablecoin rules and the regulatory treatment of decentralized finance (DeFi) systems. Over 100 crypto firms are actively pushing for the bill’s passage.
Time is becoming critical. If the Senate does not act soon, the bill risks being pushed into the election season, which could delay crypto regulations for years. The narrow window for action highlights the gap between political support and legislative progress on the issue.
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