Executive Branch Crypto Strategy: CLARITY Act Push and Platform Onboarding
During a White House meeting, President Trump urged the Senate to pass the CLARITY Act, describing it as necessary to keep the United States ahead of China in crypto markets. Trump called for a "fair version" of the bill and met with digital asset executives to advance the legislative agenda after a prior Senate vote stalled.
The Trump administration is simultaneously moving on regulatory onboarding for specific platforms. CFTC Chair Mike Selig is working to bring Hyperliquid, a decentralized perpetual futures platform, into the U.S. market under a compliant federal framework. This dual approach—pushing legislative structure while facilitating individual platform compliance—signals the administration's intent to establish guardrails while maintaining market participation.
Regulatory Enforcement and Market Structure Authority
The CFTC has concluded enforcement actions against former FTX and Alameda executives with consent orders imposing five-year trading bans. The cases followed FTX and Alameda's agreement to $12.7 billion in disgorgement and restitution payments in August 2024, resolving the regulator's civil charges.
