Trump’s Midterm Play on Crypto and AI Rules

The impending United States midterm election has created a high-tension scenario for the digital assets industry. With Congress in recess and the legislative window compressing, the fate of the CLARITY Act remains unresolved. The November electoral outcome will define not only the composition of the House and Senate but also the regulatory framework governing token classification, regulator jurisdiction, and the competitive positioning of the U.S. market within the global crypto ecosystem.

President Donald Trump has resumed public campaigning to pressure Congress into passing the CLARITY Act, labeling the legislation as a critical tool to keep the United States ahead of China in financial innovation. During a White House event with chief executives from Kraken, Bitgo, Ripple, Coinbase, and ChainLink, Trump urged legislators to proceed. Executive endorsement, however, has not cleared the procedural hurdles.

The Senate has scheduled a cloture vote for mid-September, though this vote represents only the first of several procedural steps the legislation must surmount. Even if Majority Leader John Thune advances the bill to the floor, the House of Representatives will likely seek amendments, opening a conference committee process that could reopen settled issues from prior Senate negotiations. The calendar works against the bill: Congress holds approximately three weeks of session between the recess return and the pre-election closure in November.

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