Simply put
- Caitlin Long mentioned that cryptocurrency dealings tied to President Trump complicate efforts to implement transparency laws.
- She described the likelihood of the bill passing in the Senate as a “coin toss.”
- Long pointed out that without new legislation, crypto regulations could be reversed by subsequent administrations.
Caitlin Long, CEO of Custody Bank, expressed that if Congress does not move forward with the CLAIRITY Act, issues surrounding Donald Trump’s family may also impact the situation.
At ETH Denver on Wednesday, Long remarked that Trump-related meme coins and ventures like World Liberty Financial are hindering bipartisan support necessary for a legislation that would clearly define digital asset regulations and the roles of federal agencies in the U.S.
“It caused controversy,” Long noted, citing the challenges faced by Wyoming Senator Cynthia Lummis in her efforts.
Consequently, Long indicated that the bill’s future remains uncertain.
“I think it’s a coin toss at this point,” she said. “Whatever happens, I wouldn’t be surprised either way.”
Initially proposed in May 2025, the CLARITY Act aims to establish crucial crypto market structures, create an overall regulatory framework for digital assets, and divide oversight between the SEC and CFTC.
Although it was passed by the House in July 2025, by February 2026, the Senate has stalled progress on the CLARITY Act due to ongoing debates over DeFi and stablecoin provisions.
While Long acknowledged that regulators might achieve similar outcomes through rulemaking, she cautioned that those efforts would likely be temporary given the shifting nature of U.S. politics.
“A new administration could overturn these rules,” she explained. “On the other hand, legislation passed by Congress isn’t immune to change, but it makes alterations more challenging. It’s definitely preferable for Congress to establish the law, making it more permanent.”
Long also noted that the ethical concerns regarding Trump’s family’s involvement in cryptocurrencies pose a significant challenge to the CLARITY Act’s progress.
“There might be a path to agree that satisfies both the White House and Congress, but we need the votes,” she added, pointing to the requirement of 60 Senate votes. Seven Democrats would need to support it, which is tricky, especially with outspoken figures like Elizabeth Warren opposing Trump’s family’s activities.
Nevertheless, Long remarked that bipartisan backing exists for the crypto bill, highlighting the collaboration between Senator Lummis and Senator Kirsten Gillibrand on crypto policy.
Despite concerns about the bill’s passage and the ongoing downturn in cryptocurrencies, Long believes that market volatility won’t dampen expectations.
“For those of us who have been around for a while, a 50% drop isn’t alarming,” she said, mentioning that bear markets can be valuable for learning, especially for newcomers during downturns.
“A bear market is an excellent time to educate yourself,” she advised. “Investing in yourself is key, as that’s knowledge you won’t find in school.”
