Trump Holds Closed‑Door Meeting on CLARITY Act Paragraph

President Donald Trump convened a private meeting with advisers on Friday to debate a single paragraph of the CLARITY Act, a bill that would create a regulatory framework for U.S. crypto assets. The meeting took place two days before the Senate is scheduled to vote on cloture for the legislation.

Key Issue in the Draft Law

The disputed paragraph would prohibit the president, the vice president, senior officials and their spouses from creating or promoting their own cryptocurrencies. The provision does not extend to children of officials.

Stakeholders and Context

• Wall Street firms have expressed support for the broader CLARITY Act.
• The Trump family’s crypto venture, World Liberty Financial, operates the USD1 stablecoin, which received a bank charter in August.
• Republican Senator Thom Tillis warned that without White House engagement on the ethics language, the bill could fail.

Legislative Timeline

The Senate will vote on cloture on Tuesday, September 15. Cloture requires a 60‑vote threshold; Republicans hold 53 seats, meaning at least seven Democrats would need to support the measure. Some Democrats have indicated they will not back the bill unless the language also covers children of officials.

Market Reaction

Polymarket betting odds on the CLARITY Act’s passage rose from roughly 16% on September 8 to about 23% after the Friday meeting.

Comments from Advisers

Patrick Witt, identified as Trump’s crypto policy adviser, described the day as a “bad day to be a CLARITY Act doomer,” but did not disclose specifics of any changes discussed.