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Trump has stepped up efforts to advance the Senate\u2019s crypto market structure bill by convening key Republican senators at the White House as lawmakers push to secure a floor vote before the August recess.<\/p>\n
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According to Politico, President Donald Trump is scheduled<\/a> to meet several Republican senators at the White House on Thursday to discuss the Senate\u2019s crypto market structure bill and the remaining steps needed to move it toward a vote.<\/p>\n Senator Bernie Moreno told the publication that lawmakers will brief Trump on the legislation and \u201cits path to success,\u201d while a Senate Republican aide confirmed that Senator Cynthia Lummis will also attend the meeting.<\/p>\n \u201cWe\u2019ll be talking about the entirety of the bill. I mean, obviously the president\u2019s been very engaged in this bill,\u201d Moreno said. \u201cHe\u2019s the one who\u2019s really driven the innovation that I think will pay dividends.\u201d<\/p>\n The White House meeting comes as Senate Republicans work to pass the legislation, known as the CLARITY Act, before lawmakers leave Washington for the August recess. Many lawmakers have described the current work period as the best opportunity to move the bill before campaigning for the midterm elections intensifies.<\/p>\n Speaking to Politico, Senator Thom Tillis said he hopes lawmakers can resolve the remaining issues by the end of the week so the legislation can reach the Senate floor before the recess.<\/p>\n \u201cI\u2019m hoping that we can come up with some agreement by the end of this week,\u201d Tillis said. \u201cI think it\u2019s critical if we\u2019re going to try and get this across the floor before August recess.\u201d<\/p>\n Attention has also turned to a revised draft of the bill. In an interview with Fox Business on Wednesday, Lummis said<\/a> an updated version will be introduced within the next few days and said she expects the legislation to reach the Senate floor next week.<\/p>\n The Senate measure has been under negotiation for months, with lawmakers still discussing conflict-of-interest provisions, protections for non-custodial software developers, and rules governing stablecoin-related rewards. Senate Majority Leader John Thune previously said the chamber would vote on the CLARITY Act before the August recess, although he did not commit to a specific date.<\/p>\n <\/p>\n The legislation requires 60 votes to pass, meaning Republicans will need Democratic support after the House approved its version of the bill last year.<\/p>\n Meanwhile, several Democratic senators have continued pressing for stronger ethics safeguards before backing the legislation. Senators Chris Murphy, Jeff Merkley, and Chris Van Hollen have argued that the final bill should explicitly prevent the president, vice president, members of Congress, senior executive officials, and their immediate families from profiting from crypto businesses that could be affected by future regulation.<\/p>\n Murphy said during a July 14 press conference that \u201cthere is no reason to pass a new regulatory system for crypto if this system does not stop Trump\u2019s corruption,\u201d linking his criticism to President Trump\u2019s reported financial interests in World Liberty Financial and other crypto ventures. Trump has denied wrongdoing related to his digital asset businesses.<\/p>\n Away from Capitol Hill, prediction market traders have become more confident that the legislation will receive a Senate vote before lawmakers leave for the August recess.<\/p>\nSenate negotiations continue ahead of expected floor vote<\/h2>\n
Prediction markets see better odds of Senate action<\/h2>\n