AIDEN BUZZETTI: Pass The Senate CLARITY Act

President Donald Trump came into office promising to bring forth a golden age. To that end, he has sought to modernize American industry, expand America’s economy, and make America even more of a center for technology revolutions.

And his pledge on putting America in the lead on digital assets and blockchain technology, which connects all three of those goals, has been at the heart of those efforts.

The Trump administration zoomed in on the passage of two key pieces of legislation: the GENIUS Act and the CLARITY Act. The former was a landmark piece of legislation, the first of its kind in that it set out rules and regulations for stablecoins. That was an America First win Trump achieved this summer with solid, bi-partisan support.

That same week in July, the House of Representatives also overwhelmingly passed the CLARITY ACT, a bill to define the digital asset market structure in this country during what the White House dubbed “Crypto Week.” America was heading towards a major victory in the race to dominate the global digital asset space as Trump had promised.

But instead of running down the field to an easy touchdown, the Senate fumbled the ball on the CLARITY Act. The impact of this failure of leadership could be serious if it isn’t resolved soon.

This isn’t an overstatement: When President Trump called on Congress to pass crypto legislation, he named both bills as critical to his Make America Great Again agenda. That’s because, while the GENIUS Act focuses on stablecoins, the CLARITY Act provides clarity (as per the name) on how the government should regulate digital assets more broadly.