Trump Pressures Congress Using Senator's Death: Demands Passage of Crypto Market Structure Bill in Graham's Name
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Trump Pressures Congress Using Senator's Death: Demands Passage of Crypto Market Structure Bill in Graham's Name
Meanwhile, the Republican majority in the Senate has shrunk to 51-47, and with the bill needing to pass the 60-vote threshold, the difficulty has increased sharply.
Navigating Web3 tides with focused insightsAuthor: Turner Wright
Compiled by: TechFlow
TechFlow Editor's Note: US Senator Lindsey Graham passed away last weekend, prompting Trump to immediately call on the Senate via social media to pass the crypto market structure bill CLARITY Act "in Graham's name." However, Graham did not directly push for this bill during his lifetime. Meanwhile, the Republican majority in the Senate has shrunk to 51-47, making the 60-vote threshold for the bill significantly harder to reach.
US President Trump is urging the Senate to pass the "Digital Asset Market Clarity Act" (CLARITY Act), citing the need to "commemorate" Senator Lindsey Graham, who passed away last weekend.
Trump posted on Truth Social on Monday, stating that Graham had always been a "strong supporter" of the CLARITY Act, and called on the Senate to pass the bill as soon as possible. The Senate has only four weeks of session left before the long August recess, leaving legislators with a narrow window. Graham passed away last Saturday at the age of 71.
Caption: Screenshot of Trump's post on Truth Social
But the fact is, as a Senator from South Carolina, Graham has served in the Senate since 2003. In the current Congress, he is neither on the Banking Committee nor the Agriculture Committee, nor has he cast any votes to advance the CLARITY Act. He voted in favor of the stablecoin bill GENIUS Act in 2025, but never made public statements directly supporting the CLARITY Act.
Core Controversy of the CLARITY Act
The core of the CLARITY Act is to significantly transfer digital asset regulatory and enforcement authority from the SEC to the CFTC. This is the result of long-term efforts by the crypto industry, as the SEC has consistently been considered too aggressive in enforcement.
However, there is significant resistance from Senate Democrats. Multiple Democratic senators have clearly stated that they will not vote in favor unless the bill includes provisions regarding conflicts of interest between legislators and the crypto industry. Democrats are referring to Trump's associations with multiple crypto projects, including his memecoin and World Liberty Financial under his family.
Vote Dilemma: How to Pass the 60-Vote Threshold?
With Graham's death and Senator Mitch McConnell hospitalized, the Republican majority in the Senate has shrunk to 51-47. To pass the CLARITY Act, 60 votes are needed, meaning Republicans must secure additional Democratic support.
Cointelegraph contacted the offices of Senators Tim Scott, Kirsten Gillibrand, and Angela Alsobrooks seeking comment, but received no immediate response.
Senator Cynthia Lummis expressed support for Trump's claim on X on Monday, stating that Graham was "passionate about ensuring the United States stays ahead in various fields, including digital assets." Cointelegraph also contacted Lummis's office requesting clarification on Graham's specific stance on digital assets, but similarly received no response.
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