Crypto

US President Trump Expects to Sign the Crypto Bill ‘Soon’

6 hours ago
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Key Highlights

  • In the recent speech at Davos, U.S. President Donald Trump said that Congress is working on a crypto market structure bill, and he is expecting to sign it soon
  • His statement comes amid the ongoing discussion around the CLARITY Act
  • A full committee markup is scheduled for next week to debate amendments and potentially vote to advance the bipartisan draft

While addressing the World Economic Forum at Davos, U.S. President Donald Trump made a huge statement, where he highlighted Congress’s ongoing legislative efforts to bring regulatory clarity. 

Trump Crypto BillTrump Crypto Bill

(Source: Watcher.Guru on X)

Trump stated that Congress is working on a crypto market structure bill, and he hopes to sign it soon. 

Trump ‘Hopes’ to Sign Crypto Bill after Delay

There is no room for doubt that Trump’s pro-crypto administration has made remarkable progress in the regulatory framework for the cryptocurrency market. However, Trump’s statement comes at a time when disagreements in Congress have postponed a major voting session until late January. 

The proposed law, called the CLARITY Act, is expected to create clear regulatory guidelines and rules for the digital asset market. It would give the Commodity Futures Trading Commission, or CFTC, authority over spot trading and include protections for people who hold their own crypto wallets. 

However, arguments over how to handle stablecoins and their investment yields have slowed the process down, revealing a clash between the White House’s support for crypto and industry concerns. 

Important Committee Vote Suddenly Canceled

The roadblock became public last week when the Senate Banking Committee called off a planned meeting to debate and vote on the bill. This cancellation happened just hours after the largest U.S. crypto exchange, Coinbase Global Inc., announced it could no longer support the current version of the legislation. 

People involved in the discussions say this delay might leave the industry in a state of uncertainty for many more months. Lawmakers like retiring Senator Thom Tillis, a Republican from North Carolina, and Senator Cynthia Lummis, a Republican from Wyoming, have warned that the issue might not be resolved until after the midterm elections later this year. 

President Donald Trump, who has repeatedly said he wants the United States to lead the world in cryptocurrency, affirmed that the need for speed during a recent briefing. “We want this bill on my desk ASAP – no more delays,” Trump said in June, 2025.

This legislative effort is the continuation of his policy from last July, when he signed the GENIUS Act into law to regulate payment stablecoins. The current CLARITY Act is designed to expand on that law and an earlier House bill known as FIT21 from 2024. It proposes a shared oversight model between the CFTC and the Securities and Exchange Commission, or SEC, requiring crypto exchanges and brokers to register with the government. 

Coinbase’s CEO, Brian Armstrong, is disappointed with the bill, which is the main reason behind this delay. Armstrong stated that the bill in its present form has “too many issues” and would be “worse than no bill at all.” A major point of controversy is a provision that would limit companies from offering yields or rewards on stablecoin holdings. 

Coinbase views this as a rule that would hurt innovation. In response, White House advisors have privately urged the crypto industry to accept an “imperfect” bill to get some regulatory clarity now. They have warned that waiting could lead to much stricter laws in the future under a different administration. 

Trump’s appointed crypto czar, David Sacks, confirmed the rescheduled committee vote for late January. Other people in the crypto industry, like Bill Hughes, Senior Counsel at ConsenSys, have praised parts of the Senate draft, especially its clear support for self-custody rights. 

Amid the delay in the crypto bill and regulatory tussle, the crypto market is showing signs of a downward trend. At the time of writing, Bitcoin (BTC) has plunged below $90,000 after facing a 7.24% drop in a week, according to CoinMarketCap. Other altcoins have also suffered massive losses.  

According to the latest report, the Senate Agriculture Committee is expected to release the latest legislative text for its crypto market structure bill by the close of business today. A full committee markup is scheduled for next week.

Also Read: Bitcoin Below $90K Amid Global Unrest; ETFs & US Stocks Bleed

Source: https://www.cryptonewsz.com/us-president-trump-sign-the-crypto-bill-soon/