Trump to Sign Off on Final Text of Crypto Market Structure Bill

President Trump is preparing to approve and publish the final legislative language for a sweeping crypto market structure package that could reset how digital assets are regulated in the United States. The proposal, formally titled the Digital Asset Market Clarity Act (the "CLARITY Act"), has been moving through Congress for more than a year. Trump's approval of the final text would mark a pivotal step toward resolving the core question the bill targets: which federal regulator is in charge of crypto. At the center of the CLARITY Act is a jurisdictional split between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The bill would place "digital commodities" under the CFTC's oversight and narrow the SEC's reach to assets that function more like securities. Legislative path and the ethics impasse The House passed the CLARITY Act in July 2025 by a 294–134 margin, with notable bipartisan support that included 78 Democrats. The Senate Banking Committee advanced the bill in May 2026 on a 15–9 vote. Since then, the legislation has remained on the Senate Legislative Calendar as Calendar No. 423, stalled over ethics provisions. Those provisions have become entangled with scrutiny of Trump's personal exposure to crypto markets. Reports say his digital-asset gains exceeded $2 billion in 2025, tied largely to World Liberty Financial and its $WLFI token. Democrats have focused on potential conflicts of interest, arguing that a president positioned to benefit from crypto-friendly rules should not be shaping those rules. Trump had previously predicted the bill would clear Congress by July 4, 2026, a timeline that has slipped. A meeting with senators on July 16 sought to resolve remaining disagreements, particularly rules governing digital-asset holdings by public officials. What the bill aims to deliver The CLARITY Act would extend a policy trajectory already underway. In 2025, Trump signed the GENIUS Act, which targeted stablecoin regulation. The market structure bill is broader, seeking a single framework for the wider digital-asset ecosystem. Rather than naming individual tokens or projects, the legislation relies on categories and definitions, including a reworked definition of "digital commodity" that would determine when an asset falls under CFTC jurisdiction. Implications for markets and investors Regulatory uncertainty has been a major reason institutional investors have limited exposure to digital assets. A finalized market structure law could bring more institutional participation by making compliance planning more straightforward, enabling custodians to expand services, and allowing asset managers to allocate capital with less fear of unexpected enforcement. Even with a finalized text, Senate passage is not assured. Conflict-of-interest concerns give Democratic senators leverage to delay the measure or push for amendments. Any Senate revisions could send the bill back to the House, extending the timeline. Several jurisdictions have already adopted comprehensive digital-asset rulebooks, and US-based projects have increasingly pursued offshore options in search of clearer oversight. Each month of delay risks further erosion of the US position in the global race to set digital-asset regulatory standards.