Trump’s Oval Office Move Signals Support for Clarity Act: Eyes on September 15
Donald Trump signaled a “bullish” stance on passing the Clarity Act while seeking feedback from crypto and finance executives in the Oval Office; the first procedural vote in the Senate is scheduled for September 15.
According to The Block, several executives were invited to the Oval Office following the press conference. While the exact list of attendees remains unclear, one source stated that Trump is “bullish” about passing the Clarity Act. The administration aims to pass the bill through Congress by next month at the latest.
Chainlink co-founder Sergey Nazarov, who attended the meeting, noted that the discussion was productive and the primary agenda was to gather industry feedback on the Clarity Act. Nazarov said, “What are the remaining open points? Which senators’ support do we need to secure? What is the plan once we return from recess?” Also present at the press conference were Nasdaq CEO Adena Friedman, Robinhood CEO Vlad Tenev, Kraken CEO Arjun Sethi, ICE CEO Jeffrey Sprecher, Coinbase CEO Brian Armstrong, and Ripple CEO Brad Garlinghouse.
Trump seeks senatorial support for the Clarity Act
The first procedural vote in the Senate will take place on September 15. In line with the goal for next month to pass the bill, which is expected to regulate the crypto sector at the federal level for the first time, open points must be resolved and the necessary support from senators secured.
Major disagreements over the bill center around stablecoin rewards, illicit finance concerns, and Trump’s crypto wealth, which involves hundreds of millions of dollars linked to World Liberty Financial and Trump’s meme coin.
Ethics regulation and reserve agenda in the Clarity Act
In July, Trump accepted an ethics provision that prohibits public officials, employees, and their spouses from issuing or sponsoring digital assets. While the provision is intended to be enforced by the Department of Justice and expire in January 2029, Democrats found the regulation insufficient. The Gallego-Tillis proposal allows the ban to be enforced by state attorneys general as well.
Nazarov mentioned that the ethics issue was not addressed during the Oval Office meeting. He also noted that a strategic bitcoin reserve was discussed, though no details regarding next steps were shared.