#特朗普呼吁尽快通过Clarity法案 I. Event Background: Pressure Disguised as Mourning

On July 13, 2026, Trump posted on Truth Social calling on the Senate to pass the “Clarity Act” (CLARITY Act) for the Digital Assets Markets. The special part of this post is its “pretext”—on July 11, South Carolina Senator Lindsey Graham unexpectedly passed away at the age of 71. Trump packaged passage of the bill as “a memorial to Graham,” while warning that “China and many other countries want to fully control this major financial event and the field of artificial intelligence.”

However, Graham himself was not a key participant in the bill—he was neither on the Senate Banking Committee nor on the Agriculture Committee, and he had never voted in favor of pushing for this legislation. “Urging votes” using a deceased senator who wasn’t a core driver is, in essence, a carefully packaged political narrative.

II. The Core of the Bill: Ending the SEC vs. CFTC Regulatory Turf War

The CLARITY Act aims to clarify the regulatory division of labor between the SEC and the CFTC for digital assets, and to build a federal-level rules framework for the crypto industry. Its core is to give CFTC the lead on regulation of digital commodities, while the SEC would mainly handle digital assets classified as securities.

The bill already passed the House of Representatives in July 2025 by 294-134, and passed the Senate Banking Committee in May 2026 by 15-9. Major crypto industry players including Coinbase, Circle, and Ripple have all said they support it.

III. Political Calculations: Hiding a Triple Bind with “China Threats”

Behind Trump’s call are three layers of political calculation:

First, use an “anti-China” narrative to win cross-party support. By elevating crypto-asset regulation into a key battleground for “U.S.-China competition,” Trump tries to rally Democratic lawmakers under the banner of national security.

Second, use Graham’s death to create urgency. Graham’s death reduced the Republican Senate majority from 53 seats to 52, while the bill needs 60 votes to overcome obstruction—meaning at least 8 Democrats must defect.

Third, conceal personal conflicts of interest. In 2025, Trump filed reports of more than $1.4 billion in crypto-asset income, mainly from World Liberty Financial and the authorization of $TRUMP. Democratic lawmakers are pushing to add ethics provisions to the bill that would restrict the president and senior officials and their family members from profiting from the crypto industry. This directly fuels questions about the “interest-relatedness” of Trump pushing the bill.

IV. Three Major Deadlocks: Why It Keeps Getting Stuck

The bill’s stalemate stems from three core disagreements:

· Ethical controversy: Whether the president and senior officials should be banned from issuing or profiting from digital assets. The Trump family’s crypto holdings have made this issue highly politicized.
· Developer responsibility: “Section 604” on developer-responsibility exemptions has split opinions within the enforcement system.
· Stablecoin yield: The banking sector strongly opposes allowing crypto companies to make interest-like payments to stablecoin holders, fearing deposit outflows.

V. Window and Probability: Time Is Running Out

Only a few weeks remain before the congressional recess in August. Galaxy Research has cut the probability of passage this year from 75% to 60%; Polymarket data further shows market expectations have fallen to around 40%. Senator Lummis has said: if they can’t get it done this year, the next real legislative opportunity may not come until 2030.

Trump’s call is a precise pressure tactic that combines mourning politicized, competition securitized, and legislation personalized into one. But amid triple squeezes from ethics disputes, industry splits, and the shrinking time window, it remains unknown how many Democratic votes the slogan “Don’t let China win” can actually move.