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FollowingU.S. President Donald Trump is urging Senate members to pass the Digital Asset Market Clarity Act (CLARITY Act) to "commemorate" Senator Lindsay Graham, who passed away last weekend.
In a Truth Social post posted on Monday, Trump said Graham has been a "strong supporter" of the CLARITY bill and called on the Senate to pass the bill. The Senate has four weeks left before its month-long state work period in August, giving lawmakers a small window into passing the crypto market structure bill. Graham died Saturday at the age of 71. 
Graham is a South Carolina congressman who has served in the Senate since 2003. He has not served on the Banking Committee or the Agriculture Committee during this session of Congress, nor has he voted to advance the CLARITY bill. He voted in support of the U.S. stablecoin Guidance and Establishing National Innovation Act (GENIUS Act) in 2025, but does not appear to have publicly supported the CLARITY Act.
The crypto market structure bill is expected to transfer most of the power for digital asset regulation and enforcement from the U.S. Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). However, many Senate Democrats have said they will not support the legislation unless provisions are added to the bill to resolve potential conflicts of interest between lawmakers and the crypto industry. Some people mentioned Trump's connections to projects such as his own memecoin and his family's World Liberty Financial Corporation.
With Graham's death and Senator Mitch McConnell's hospitalization, the Republican majority in the Senate has dropped to 51 - 47, and additional Democratic support may be needed to meet the 60-vote threshold needed to pass the encryption bill. Reporters sought comment on Trump's remarks from the offices of Senators Tim Scott, Kirsten Gillibrand and Angela Olsbrooks, but did not immediately receive a reply.
Senator Cynthia Loomis expressed support for Trump's comments in an X post posted Monday, adding that Graham is "keen to ensure that American leadership remains at the forefront of everything-including digital assets." Loomis's office was also contacted to clarify Graham's position on digital assets, but no immediate response was received.
This is a developing story and will be updated as more information becomes available.
