Trump and Bessent join forces to pressure the Senate to "pass clear legislation," countdown to DeFi and stablecoin regulation begins

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U.S. President Trump posted twice on Sunday to support the CLARITY Act, while Treasury Secretary Scott Bessent simultaneously declared that "the U.S. will become the best jurisdiction for crypto regulation globally." The executive branch is jointly pressuring the Senate to pass this digital asset market structure bill, which has been stalled for over a year. However, controversies over stablecoin yields, banking industry lobbying, and conflict-of-interest concerns surrounding the April 25 Mar-a-Lago meme coin event leave the bill's prospects full of variables. (Previous coverage: Trump meme coin $TRUMP "riddled with insider trading": Insiders' $110 million unrealized gains spark controversy) (Background: rsETH hit by $292 million exploit, demand for DeFi regulatory clarity heats up). The White House has taken action—and it is a two-pronged approach. On Sunday, U.S. President Trump issued two posts on the same day, backing the Digital Asset Market Clarity Act (CLARITY Act) for swift passage. The first post declared: "The moment the bill hits my desk, I will sign it"; the second was more urgent: "I HOPE IT GETS DONE." Treasury Secretary Scott Bessent also spoke out, stating that the CLARITY Act would make the U.S. the "country with the best crypto regulation in the world." This rare, synchronized pressure from the executive branch on a Sunday is being interpreted by the market as the bill entering its final countdown. 💥BOOM! 🇺🇸 Sec. Scott Bessent on the CLARITY Act: “The U.S is becoming the crypto capital of the world with the BEST regulation.” President Trump is READY to sign it! pic.twitter.com/bBxyYr1jkA — JackTheRippler ©️ (@RippleXrpie) April 19, 2026 The official name of the CLARITY Act is the "Digital Asset Market Clarity Act of 2025" (H.R.3633). Its core objective is to delineate the jurisdictional boundaries between the SEC and the CFTC regarding digital assets—determining which are "securities" under SEC oversight and which are "commodities" under the CFTC. For a long time, one of the biggest legal risks in the crypto industry has been the gray area between SEC and CFTC jurisdiction: the same token could be targeted by both regulators or ignored by both. The CLARITY Act attempts to end this regulatory vacuum and establish a predictable compliance framework for DeFi protocols, stablecoin issuers, and institutional investors. The House of Representatives has already passed the bill, but it has been stuck in the Senate for over a year. Senate Banking Committee Chairman Tim Scott has yet to announce a specific voting date. The core reason for the bill's stagnation is not just partisan opposition, but real conflicts of interest. The Stablecoin Yield Dispute: Banking industry lobbyists strongly oppose allowing stablecoin issuers to pay interest to holders, as this would directly cannibalize traditional bank deposits. Parts of the draft bill are clearly biased toward the banking industry's position, limiting stablecoin yield mechanisms. It was precisely because of this clause that Coinbase announced in January 2026 that it was withdrawing its support for the bill—the public opposition from one of the largest compliant crypto exchanges in the U.S. has made it harder for the Senate to reach a consensus. Trump's Personal Interests: Pro-crypto Democratic senators have demanded that the bill explicitly prohibit the sitting President from engaging in personal crypto investments, pointing directly at Trump's meme coin $TRUMP and related DeFi projects. Even more awkward is that the key timing for the Senate Banking Committee to push the bill at the end of April coincides with the meme coin holder dinner hosted by Trump at Mar-a-Lago on April 25—the questions regarding conflicts of interest are almost unavoidable. Bessent is clearly losing patience with these obstacles. On April 9, he positioned the CLARITY Act as a "national security priority." On April 18, in an interview with Decrypt, he escalated his tone, calling those who oppose the bill "nihilists" and warning that if the U.S. fails to establish clear industry rules, it will surrender its global financial leadership. The synchronized pressure from the White House, the Treasury, and the SEC on Congress is rare during the current administration's push for crypto legislation. The Hill noted that this is the most intensive public push by the executive branch for the CLARITY Act to date. If the CLARITY Act successfully passes the Senate, the industry expects three chain reactions: DeFi gains a legal basis: The CFTC will gain primary jurisdiction over most decentralized finance protocols, and protocol developers will no longer face the "Sword of Damocles" of being sued by the SEC at any time. Stablecoin

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