President Donald Trump hosted cryptocurrency executives at the White House on Wednesday, pressing Congress to approve what he called a “fair version” of the Digital Asset Market Clarity Act. Trump framed the bill as important to U.S. competitiveness with China and to the development of blockchain technology, underscoring how the measure sits at the center of the broader effort to define who writes the rules for digital assets in the United States.

The meeting included senior leaders from Coinbase, Gemini, Ripple, and Chainlink Labs. In some cases, executives met with Trump in the Oval Office. Trump said the legislation had strong “bipartisan” support and urged Senate members to move it forward quickly.

White House Crypto Summit recap: • President Trump says US considers buying "sizable" amounts of Bitcoin & other crypto. • Trump calls on Congress to pass Crypto Clarity Act. • Trump says US is ensuring it remains the "undisputed leader" in $BTC & crypto. •… — Watcher.Guru (@WatcherGuru) August 19, 2026

Legislative framework and goals

The Digital Asset Market Clarity Act is designed to establish broad regulatory rules for cryptocurrency assets across the United States. The House approved the measure in July 2025, but it has stalled in the Senate, making the upcoming legislative window a key test of whether Congress can reach agreement on a framework that has already cleared one chamber.

The main points of contention include provisions involving tokenized securities, stablecoin incentive mechanisms, and possible ethical conflicts tied to the Trump family’s cryptocurrency-related business activities. Those issues help explain why the bill remains politically sensitive even as industry leaders push for clearer rules.

Brian Armstrong, chief executive of Coinbase, said the legislation would create a regulatory framework that could last for “decades and decades to come.” Armstrong said he expected the bill to win more than 60 votes after the Senate’s September 15 cloture motion.

Some executives were invited to the Oval Office, where Trump asked for recommendations on administrative priorities. Sergey Nazarov, chief executive of Chainlink Labs, said Trump and his team considered passage “very doable” and believed only a small number of senators needed further persuasion.

Senate resistance

The bill continues to face opposition. Senator Ruben Gallego, speaking at the Wyoming Blockchain Symposium, pushed back on Trump’s description of the measure.

“I think, unfortunately, what the president means is fair to him,” Gallego said, referring to the ethics provisions in the legislation.

Gallego said decisions about appropriate presidential oversight of regulation belong to Congress, not the executive branch.

Regulators move ahead separately

As Congress enters a month-long recess, both the Securities and Exchange Commission and the Commodity Futures Trading Commission are continuing to develop cryptocurrency policy on their own, limiting the extent to which lawmakers are the only source of near-term guidance for the sector.

SEC Chairman Paul Atkins said the agency’s recently announced cryptocurrency framework gives entrepreneurs the clarity needed to raise capital through digital assets. Atkins called the Clarity Act the SEC’s top priority and said the agency remains committed to helping it advance.

The CFTC held its first Innovation Advisory Committee meeting on Thursday, with executives from Kraken, Anchorage Digital, Grayscale, and OKX participating. CFTC Chair Michael Selig said the commission would consider further cryptocurrency rulemaking while Congress is away.

The Senate has only a limited window in September to act before another recess that will continue through the November election cycle.