President Donald Trump held a Target meeting at the White House Thursday with key stakeholders in the crypto space. Those in attendance included Senator Bernie Moreno, Senator Cynthia Lummis, Chairman of the Senate Banking Subcommittee on Digital Assets, White House Cryptocurrency Advisor Patrick Witt, Susie Wells, and Solana Policy Institute President Christine Smith. The meeting had one goal: to resolve the conflict of interest impasse that is preventing the Digital Asset Market Clarity Act from reaching a vote in the Senate before August. Vacation.
There’s a reason everyone is watching the White House meeting today.
The CLARITY Act is not about picking winners between Bitcoin, Ethereum, or XRP.
It’s about creating the legal framework that defines how digital asset markets will operate in the United States for years to come.
clear… pic.twitter.com/diZ26U7cZe
– Alec (@alecweb3) July 17, 2026
This is not just a scheduling problem. It’s a structural collision between Trump’s personal financial entanglements in the world Encryption regulation The ecosystem and legal language that Senate Democrats say is the minimum requirement for their votes, without which Republicans cannot pass the 60-vote threshold.
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CLARITY ACT NEWS: The Ethics Clause and why seven Democratic votes are the ceiling, not the floor
The Senate needs at least seven Democratic votes for liquidation, and that calculation has tightened around one unresolved issue: enforceable conflict-of-interest rules covering the president, vice president, and members of Congress.
In financial filings since the beginning of the month, Trump has disclosed more than $1 billion in cryptocurrency-related revenue, about $594 million from World Liberty Financial, the cryptocurrency company he launched with his children in 2024, and $635 million from sales of his digital currency.
A group of Senate Democrats, including Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden, said after those filings that the disclosures raised concerns about the president pushing Congress to pass cryptocurrency legislation to benefit the very industry he benefits from.
The Senate Banking Committee had already failed to pass an amendment during May that would have prevented senior government officials from maintaining business ties with the cryptocurrency industry, with Republicans blocking that on procedural grounds.
Christine Smith of the Solana Policy Institute, who attended Thursday’s session, said the meeting was intended to brainstorm the ethics issue and that it was important to pass the bill. Senator Moreno told Politico that the discussion will cover “the entirety” of the bill, including updates on Trump and “the path to success” for the legislation.
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Senate schedule: Three work weeks and a busy floor calendar
The Senate returned from its Independence Day recess on July 13, leaving nearly three weeks of work before its August recess begins around August 10. Senator Lummis told Fox Business on Wednesday that she expects the Clarity Act to reach the Senate floor for a vote sometime next week, and described the window as important: “We will be introducing it in the next few days.”
The bill, listed as No. 423 on the Senate legislative calendar since June 1, is eligible for a vote when Majority Leader John Thune sets a date. It still must reconcile the Senate Agriculture Committee’s text, merge with the House-passed version, and pass the 60-vote threshold, all while competing with confirmation hearings and the National Defense Authorization Act (NDAA) for debate time.
The House Financial Services Committee is holding a field hearing on July 17 titled “Building the Future of Finance: How the Clarity Act Sparks Innovation,” which is expected to begin groundwork ahead of reconciliation.
Source: Polymarket
Pass odds are compressed along with the calendar. Polymarket traders, as of Thursday morning, put the likelihood of the CLARITY Act becoming law this year at 31%down from a peak of 82% in mid-February.
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Neil is a professional cryptocurrency content writer with years of experience. He has written for numerous cryptocurrency websites to report breaking news, and has been hired by all kinds of cryptocurrency projects, to create content that will increase their exposure and attract more potential investors.
