Technology executives from several innovation-focused industries met with President Donald Trump ahead of this week’s inaugural Innovation Advisory Committee meeting at the CFTC.
Trump called on Congress Wednesday to advance the crypto market structure bill, saying lawmakers need to “take the next step” and approve the legislation.
Surrounded by executives from Coinbase, Gemini, Ripple, Chainlink Labs and other crypto companies, Trump urged lawmakers to pass a “fair version” of the Digital Asset Market Clarity Act. His remarks highlighted the ongoing negotiations over the bill’s language as it remains stalled in the Senate.
Trump said the legislation would create a strong framework for the industry, helping the US stay ahead of China and other competitors while opening the way for new technologies and businesses.
The White House meeting came one day before the CFTC’s new Innovation Advisory Committee was set to convene for the first time. The panel includes executives from crypto companies such as Kraken, Anchorage Digital, Grayscale and OKX, alongside leaders from prediction-market and AI firms.
Trump Discusses Clarity Act With Crypto Executives
Chainlink Labs CEO Sergey Nazarov said Trump later brought the executives into the Oval Office for further talks and asked them to share their collective feedback on the administration’s crypto priorities.
The group discussed the Clarity Act and what would be required to get the legislation through Congress, Nazarov said.
According to Nazarov, Trump and his advisers viewed passage as achievable. They identified a limited number of remaining issues and several senators whose support would be important to securing the bill’s approval.
Trump has emerged as a key figure behind the administration’s crypto policy push. The SEC this week proposed a major new crypto rule, while the Treasury Department has also advanced its plans for regulating stablecoins.
However, Trump is also closely tied to the debate over ethics provisions in the Senate version of the Clarity Act. Democratic negotiators have sought restrictions addressing Trump’s crypto-related interests and potential conflicts involving senior government officials.
Senate Faces Key Test on Clarity Act
The Clarity Act is expected to receive another opportunity in the Senate next month before lawmakers enter a recess that could last until the November elections.
While the bill is being prepared for a potential final vote, it has yet to face a decisive test of whether it can attract the 60 votes required for passage in the Senate.
Coinbase CEO Brian Armstrong argued that the legislation would make the administration’s crypto policy changes more lasting by establishing rules capable of remaining in place for decades.
Armstrong described the measure as a genuine bipartisan compromise and said cooperation across the aisle could help lawmakers get it over the finish line.
SEC Chairman Supports Congressional Action
SEC Chairman Paul Atkins said the agency’s latest crypto proposal further demonstrates why the industry needs lasting legislation such as the Clarity Act.
Atkins told Trump that the SEC’s proposed crypto asset rules would provide entrepreneurs and job creators with greater certainty when raising capital through digital assets in the US.
He said congressional approval of the Clarity Act remains the agency’s top priority and that the SEC would do everything possible to support the legislative process.
Trump Maintains Close Ties With Crypto Industry
Trump has repeatedly brought crypto executives to the White House, including for a major industry summit shortly after returning to office and a ceremony celebrating the signing of the GENIUS Act on stablecoins.
Nazarov said he welcomed the diverse group of companies represented at Wednesday’s meeting, which included traditional financial institutions, fintech businesses and blockchain infrastructure firms.
He said the industry needs to make policymakers more aware of the broader economic implications of digital assets and their role in maintaining US financial leadership.
Nazarov argued that some critics may underestimate the stakes for the US dollar’s global reserve-currency position. He also praised the SEC and CFTC leadership for recognizing the importance of keeping the US competitive in global financial markets.
