President Donald Trump, in a Truth Social post, declared America the 'crypto capital of the world,' triggering coordinated support from the SEC, Senate Republicans, and Ripple for swift passage of the CLARITY Act. Trump criticized former SEC Chair Gary Gensler and the 'Anti-Crypto Army' for nearly destroying the U.S. crypto industry, vowing to create a 'future-proof' regulatory framework. SEC Chair Paul Atkins echoed that the enforcement-first era is over, promising market-wide clarity. Ripple CEO Brad Garlinghouse called the moment a vindication after years of SEC litigation. The U.S. Senate Banking Committee passed the CLARITY Act on May 14 in a 15-9 bipartisan vote. The bill defines most digital tokens as commodities, splits oversight between the CFTC and SEC, and adds custodial protections for customer assets at exchanges. Senate Majority Leader John Thune controls floor scheduling, and the bill needs 60 votes to pass. The August recess is a key deadline before midterm politics complicate matters.

Key facts

• Trump's post triggered coordinated SEC, Senate, and Ripple support for CLARITY Act.
• SEC Chair Atkins declared enforcement-first era over, promising market clarity.
• Ripple CEO Garlinghouse called anti-crypto coalition defeated by courts and voters.
• CLARITY Act passed Senate Banking Committee 15-9 on May 14.
• Bill needs 60 Senate votes; August recess is key deadline before midterms.