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BTC 
ETH Trump pegs the fate of CLARITY bill to late Senator Graham As the time window for passage of the Cryptocurrency Market Structure Bill in the Senate narrows, former President Trump is linking the advancement of the CLARITY bill to the death of Senator Lindsay Graham. Graham died of a sudden illness on Saturday at the age of 71.
Remembrance in legislation
Trump called on the Senate to pass the bill in a Truth Social post specifically in memory of Graham and viewed the vote as part of a broader competition with China in cryptocurrencies and artificial intelligence. "Don't let China win in these two areas," he wrote, emphasizing that the United States currently remains a leader in these industries but faces growing external pressure.
Graham's death adds emotional color to the bill. About a year after the bill passed the House, it has been stalled in the Senate for months.
Mathematical thresholds still to be crossed
Republicans have 53 seats in the Senate, but 60 votes are still needed to pass the bill. At least two Republicans are expected to vote against it, which means cross-party support is needed from at least seven Democrats. According to reports, only two Democratic senators currently openly support the bill, making it difficult to fill this huge gap in a short period of time.
The Senate must vote by Aug. 7, after which Congress goes into its August recess. Senator Cynthia Loomis warned that if this window is missed, substantial cryptocurrency legislation could be delayed until 2030, given the upcoming midterm elections and the possibility that Democrats will increase Senate seats.
The actual content of the bill
The bill treats Bitcoin and Ethereum as commodities and places them under the supervision of the Commodity Futures Trading Commission, permanently depriving the SEC of the power to reclassify these two assets as securities. The House Financial Services Committee has scheduled a field hearing on the bill in New York on July 17, aimed at building momentum for a possible full Senate vote.
Ethical controversy still hangs over bill
On the other hand, five Democratic senators have called for a committee hearing on the potential national security impact of Trump's personal cryptocurrency holdings. They cited a 2025 financial disclosure that showed that Trump had approximately $1.4 billion in cryptocurrency-related assets, including a "memin" and a family-linked financial platform. Senator Kirsten Gillibrand has proposed a provision to ban elected officials from holding "memin," a compromise that some believe could bridge partisan differences before the deadline.
