- Trump said past regulators pushed Bitcoin, crypto perpetuals, and innovation offshore through restrictive policies.
- Crypto perpetuals entered U.S. policy discussions as regulators and exchanges expanded plans for domestic trading markets.
- The CLARITY Act faces political delays as lawmakers balance crypto legislation with broader congressional priorities.
President Donald Trump on Thursday renewed support for the U.S. crypto industry, promising a “future-proof” market structure that cannot be reversed by “crypto haters.” The statement came through Truth Social as lawmakers continued debating the CLARITY Act in Washington. Trump also publicly mentioned crypto perpetuals for the first time while criticizing former SEC Chair Gary Gensler and past regulatory policies.
Trump Targets Past Crypto Policies
Trump said previous regulators pushed “Bitcoin, Crypto Perpetuals, and innovation” offshore through restrictive enforcement actions. He added that builders and entrepreneurs are now returning to the United States under his administration.
According to Trump, the administration plans to codify digital asset rules designed to support long-term market operations. He described the United States as the “crypto capital” while linking policy changes to broader financial infrastructure development.
Meanwhile, Senator Cynthia Lummis warned the CLARITY Act faces growing pressure in Congress. She said software developers could again face prosecution if lawmakers fail to pass the bill.
Political tensions have also complicated negotiations around the legislation. One proposal would restrict elected officials from trading digital assets while holding office.
Crypto Perpetuals Enter Policy Debate
Trump’s statement marked his first public reference to crypto perpetuals since returning to office. Perpetual futures are derivative contracts without expiration dates and dominate global crypto trading volumes.
Notably, most perpetual trading currently operates outside the United States through exchanges including Binance and Bybit. However, U.S. regulators have recently started reviewing the sector more closely.
The Commodity Futures Trading Commission requested comments on crypto perpetual derivatives in April 2025. Shortly afterward, Bitnomial self-certified the first U.S. perpetual futures contract.
CFTC Chair Michael Selig later suggested a broader regulatory framework could arrive within weeks. Additionally, Kraken and Coinbase have expanded plans for U.S.-based perpetual trading products.
CLARITY Act Faces New Pressure
Prediction market data also reflected weakening confidence around the CLARITY Act. Kalshi odds for passage before 2027 dropped below 50% after previously approaching 75%.
According to journalist Eleanor Terrett, the bill will compete for Senate floor time when lawmakers return in June. Congress is simultaneously handling border security talks, a housing package, the farm bill, and the June 12 FISA deadline.
Analyst Jaret Seiberg of TD Cowen also warned political disagreements could delay progress on the legislation this year.
