Trump Urges Senate to Pass Clarity Act as Graham's Death Cuts GOP Edge to 52-47

3 articles · Updated · CNBC · Jul 13

Trump on Monday pressed the Senate to pass the Clarity Act, framing the crypto bill as a tribute to Lindsey Graham, who died over the weekend at 71.
The White House-backed measure is one of the first broad U.S. crypto regulatory bills, and Trump argued passage would help keep China from gaining ground in digital finance and AI.
A 15-9 Senate Banking Committee vote in May advanced the bill, but Democrats have sought stronger ethics rules for elected officials including Trump, who has made billions from digital currencies.
Graham did not vote on the committee, yet his death now shrinks Republicans' Senate majority to 52-47, potentially making final passage harder.
Coinbase, Circle and Ripple support the bill as a path to wider investment, while banks, law enforcement and some labor groups warn it could drain deposits and weaken lending capital.

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CNBC5h ago

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11 Sources

With the U.S. pushing crypto regulation, is this a move to secure the dollar's future or a risk to global financial stability?

Can the Clarity Act truly protect investors from crypto's volatility, or does it legitimize a system prone to fraud and collapse?

As new laws enable tech-backed stablecoins, will they replace traditional bank deposits and reshape the global lending system?

Senate Paralysis: Lindsey Graham’s Death, McConnell’s Absence, and GOP Gridlock Threaten Key 2026 Legislation

Overview

The sudden passing of Senator Lindsey Graham, a long-serving and influential Republican who began his national political career in the House in 1994 and joined the Senate in 2002, has created immediate challenges for the U.S. Senate. Graham, known for his leadership on foreign policy and his recent victory in the Republican primary, leaves behind a significant vacancy at a critical time. His absence, combined with ongoing health issues for Senate Minority Leader Mitch McConnell, has intensified legislative gridlock, making it even harder for the Senate to advance key bills and address pressing national issues.

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