U.S. President Donald Trump has renewed his support for the cryptocurrency industry as lawmakers in Washington continue debating the future of the CLARITY Act, a major bill designed to define rules for the digital asset market.
In a post shared on Truth Social, Trump accused former U.S. Securities and Exchange Commission Chair Gary Gensler and what he called the “Anti-Crypto Army” of damaging the industry through harsh regulation. He claimed past policies pushed crypto innovation and businesses out of the United States.
Trump said his administration helped bring blockchain developers, entrepreneurs, and crypto firms back into the country. He also repeated his goal of making the United States the “crypto capital of the world”. He promised a digital asset framework that would protect the industry from future political changes.
CLARITY Act faces uncertain path
The renewed comments come as uncertainty grows around the CLARITY Act, a long-awaited crypto market structure bill currently under discussion in Congress.
Senator Cynthia Lummis warned that failure to pass the legislation could expose American software developers to legal risks tied to blockchain technology and open-source code publishing.
If the Clarity Act doesn’t pass this Congress, American software developers will be targeted again for prosecution in the near future just for publishing code. These are the stakes.
— Senator Cynthia Lummis (@SenLummis) May 27, 2026
Analysts at TD Cowen have also raised concerns about the bill’s future. Washington Research Group analyst Jaret Seiberg said rising political tensions are making it harder for lawmakers to advance the legislation this year.
Conflict rules create new debate
One of the biggest sticking points is a proposed conflict-of-interest rule that would restrict elected officials, including the president and members of Congress, from trading or promoting digital assets while in office.
The provision could affect crypto projects linked to Trump and his allies, including the TRUMP and MELANIA meme coins, World Liberty Financial, and American Bitcoin.
The debate has added fresh political pressure to the bill as lawmakers try to balance industry growth with ethics concerns.
Prediction markets sentiment turn bearish
Prediction market sentiment has also weakened in recent days. Data from Kalshi shows the odds of the CLARITY Act passing before 2027 have dropped below 50%, down sharply from nearly 75% last week.
Journalist Eleanor Terrett reported that the bill will compete for Senate floor time when lawmakers return in early June. Congress is also handling several major priorities, including border security talks, a housing package, the farm bill, and the upcoming June 12 FISA deadline.
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