Blind Trust, Loud Warnings: Trump Tells Senate to Stop China-Proofing Crypto 🇺🇸

U.S. President Donald Trump on Thursday urged lawmakers to advance pending digital asset legislation, warning that delay risks ceding ground to foreign rivals. "We don't want to see China take over crypto," Trump said in an interview with Punchbowl News, framing the message as a call to preserve U.S. dominance in the digital asset sector.

The remarks come as the Senate continues to debate the CLARITY Act, a market structure bill that has stalled over unresolved provisions on ethics rules, illicit finance and other policy items. Trump said several countries are moving to lead the industry and that U.S. innovation cannot afford to lag. The bill has yet to receive a final vote in the upper chamber.

Trump also pushed back against ethics provisions that would restrict presidential involvement in crypto businesses, including those tied to his family. "Well, I don't mind putting it in a blind trust," Trump said, adding, "I don't run my stuff anyway. I let my kids run it." He argued the proposed rules would unfairly target him relative to other political figures.

The administration has publicly supported the crypto industry throughout the year, with Trump and senior officials meeting executives and attending industry events. The CLARITY Act remains the principal legislative vehicle for assigning regulatory jurisdiction between the Securities and Exchange Commission and the Commodity Futures Trading Commission over digital asset trading.

Senate leaders have not announced a new timeline for a floor vote, and staff-level talks on the outstanding provisions were continuing as of Thursday. Trump's comments mark one of the most direct presidential appeals to date for movement on the stalled bill, though they do not specify a legislative path forward.