Democrats are intensifying their resistance to the cryptocurrency regulatory proposal, which requires substantial support from their party to move forward.
By Jesse Hamilton|Edited by Nikhilesh De Jul 14, 2026, 6:57 p.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Democratic Senators Chris Van Hollen (left) and Chris Murphy (right) criticize the Clarity Act and President Trump's involvement with cryptocurrency. (Jesse Hamilton/CoinDesk)SummaryShow- Three Senate Democrats publicly opposed the Clarity Act during a press conference in Washington.
- They contend that the bill should not be endorsed unless it addresses the "corruption" related to President Donald Trump's personal crypto investments.
In Washington, D.C., three Democratic senators articulated multiple reasons to reject the cryptocurrency regulatory bill, as proponents of the Digital Asset Market Clarity Act strive to create a version that garners enough support from fellow Democrats to surpass the Senate's 60-vote requirement.
Senators Chris Murphy, Chris Van Hollen, and Jeff Merkley, who have previously criticized the proposed legislation, reinforced their stance during a recent press conference on Capitol Hill. They emphasized the need for a political response to the bill, particularly highlighting concerns over President Donald Trump's personal financial gains from crypto as a significant issue.
Senator Van Hollen, representing Maryland and serving on the Senate Banking Committee, referred to the Clarity Act as a "corrupt piece of legislation that will do a lot of harm."
To advance in the Senate before the upcoming summer recess and the midterm elections this fall, the Clarity Act must win over a substantial number of Democratic votes. Although a new draft is expected shortly, it still lacks a crucial provision that would prohibit senior government officials, including the president, from participating in the crypto sector.
This ethics clause remains a pivotal point in the discussions, with many Democrats stating they cannot support the Clarity Act without it. This sentiment has been echoed by those involved in negotiations who had previously voted in favor of the bill when it passed through the Senate Banking Committee.
"If this system does not stop Trump's corruption of the entire industry, this bill is worthless," asserted Murphy, who has not participated in negotiations with Republicans. "If it allows Trump to maintain control over an industry that he will regulate, then the bill itself becomes a vehicle for fundamental corruption by shielding Trump's corruption with legal protection."
The Connecticut senator expressed disbelief that the bill has progressed without a provision that entirely disconnects Trump and his family from their crypto interests.
Currently, there has been no indication of a compromise that would satisfy both factions and the White House.
Meanwhile, recent financial disclosures from President Trump, revealing he earned over $1 billion from crypto initiatives in 2025, have provided additional leverage for Democrats opposing the Clarity Act.
Murphy stated, "His issuance of cryptocurrency as a method to generate billions by deceiving his supporters into purchasing a worthless token, along with facilitating a large-scale bribery avenue for the White House, constitutes the largest corruption scheme in U.S. history."
Read More: Trump's crypto riches loom over Clarity Act talks to ban conflicts for U.S. officials
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CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
By CoinDesk ResearchJul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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