President Donald Trump urged the U.S. Senate on Monday to pass the CLARITY Act, framing the legislation as a critical step in preventing China from taking “complete and total control” of the cryptocurrency and artificial intelligence industries. Trump stated via his Truth Social that the U.S. is currently leading in AI but faces intense competition from foreign adversaries. “Don’t let China win on either subject,” Trump wrote, dedicating the push to Sen. Lindsey Graham (R-S.C.), whom he described as a “big supporter” of the bill.

The CLARITY Act is designed to establish a regulatory framework for digital assets by defining the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission. It cleared the Senate Banking Committee in May. Proponents, including Sen. Cynthia Lummis (R-Wyo.), argue that regulatory certainty is essential for maintaining American leadership in digital assets. “Let’s get Clarity passed and to President Trump’s desk,” Lummis said.

Sen. Elizabeth Warren (D-Mass.) criticized the legislation, warning of “significant flaws” in its current draft. In a letter to Senate leadership, Warren argued the bill removes standard responsibilities for financial institutions and creates loopholes in anti-money laundering and counter-terrorism financing rules. She urged the inclusion of ethics guardrails to prevent the President, Vice President, and their families from profiting off the industry, noting that Trump’s financial disclosures revealed roughly $1.4 billion from cryptocurrency ventures.

Market Implications

Trump’s comments have placed crypto-linked stocks in focus as lawmakers debate the bill. Companies that stand to benefit from a defined regulatory framework include Coinbase Global, Inc. (NASDAQ: COIN), Circle Internet Group, Inc. (NYSE: CRCL), and Robinhood Markets, Inc. (NASDAQ: HOOD). Bitcoin miners such as MARA Holdings, Inc. (NASDAQ: MARA) and Riot Platforms, Inc. (NASDAQ: RIOT) may also see increased interest if clarity strengthens the ecosystem.

By linking the legislation to AI, Trump also reinforced the investment theme of technological leadership over China. Nvidia Corp (NASDAQ: NVDA) and Advanced Micro Devices Inc. remain central to this narrative as suppliers of AI accelerators. While the CLARITY Act focuses on cryptocurrency, the administration’s comments suggest it views digital assets and AI as parallel strategic priorities for U.S. competitiveness.

Michael Saylor introduced the Bitcoin Banking Adoption Index on Monday, developed by Strategy Inc., to evaluate the level of Bitcoin adoption among leading banks and financial institutions. The index scores institutions across categories including trading, custody, exchange-traded products, stablecoins, blockchain products, margin, and leadership. The overall adoption rate measured by the index stands at 32%.

Adoption Scores by Institution

The index provides specific scores for top-tier banks, highlighting significant variance in their current engagement with digital assets. Fidelity secured the top position with a score of 71%. Goldman Sachs Group Inc. followed with a score of 45%, while JPMorgan Chase & Co. recorded a score of 43%.

Industry Outlook and Obstacles

Saylor stated that major-bank Bitcoin adoption is accelerating but remains early. He has previously identified limited banking acceptance as a primary obstacle to the growth of Strategy and the wider Bitcoin treasury industry. The Strategy co-founder argues that if major U.S. banks were to purchase, sell, and custody Bitcoin, as well as issue credit and margin lines against the asset, it would benefit all parties involved. He encourages lobbying efforts to push banks in this direction.

Saylor also criticized traditional rating agencies for failing to recognize Bitcoin’s value as collateral, a shortcoming he believes prevents people from borrowing against the asset.

Current Market Context

The release of the index coincides with a challenging period for Strategy, the world’s largest Bitcoin holder. The company is currently sitting on nearly $11 billion in unrealized losses on its BTC holdings. Strategy shares fell 0.33% in after-hours trading after closing 2.68% lower at $92.10 during Monday’s regular trading session. The stock has declined by nearly 40% year-to-date. At the time of writing, Bitcoin was exchanging hands at $62,486.46, down 0.54% in the last 24 hours.