Trump’s CLARITY Act push: what the White House crypto summit means for regulation

President Trump gathered crypto executives and federal regulators at the White House on August 19 to press Congress on the Digital Asset Market Clarity Act, setting up a September 15 Senate showdown that will define American crypto oversight for the next decade. Summary Trump hosted roughly two dozen crypto executives and regulators at the White House on August 19, calling for Congress to pass a \u201cfair version\u201d of the CLARITY Act before a September 15 Senate procedural vote. The CLARITY Act (H.R. 3633) sorts every digital asset into one of three categories, routing commodities to the CFTC, investment contracts to the SEC, and stablecoins to the existing GENIUS Act framework. Senate Majority Leader John Thune filed cloture on August 8, setting up a 60-vote threshold that requires at least 10 Democratic crossovers to clear. Polymarket odds for the bill becoming law in 2026 have collapsed from 82% in February to roughly 25% as of August 23, while Galaxy Research cut its passage probability to 10%. Bitcoin surged from $64,681 to an intraday high of $72,496 on August 19, with $2.7 billion in bearish liquidations across crypto markets. The Digital Asset Market Clarity Act has tr...