In a major development for the cryptocurrency industry, U.S. Representative Bryan Steil (R-Wis.) confirmed live on CNBC’s Squawk Box on August 19, 2025, that President Donald Trump is actively pushing for the U.S. House of Representatives to pass a comprehensive Bitcoin and cryptocurrency market structure bill. Steil’s announcement, made during a discussion at the Wyoming Blockchain Symposium, has electrified the crypto community, with enthusiasts proclaiming, “It’s happening!!!” across social media. This bill, known as the Digital Asset Market Clarity Act of 2025, aims to provide a clear regulatory framework for digital assets, marking a significant step toward making the U.S. the “crypto capital of the world.”
Steil’s remarks highlight Trump’s commitment to advancing pro-crypto legislation, building on recent milestones like the GENIUS Act for stablecoins. With Bitcoin trading around $113,846 and institutional adoption surging, this news could be a game-changer for the crypto market. Let’s break down Steil’s statement, the context of the bill, and its potential impact on Bitcoin and the broader cryptocurrency ecosystem.
Steil’s CNBC Confirmation: Key Details
During the CNBC interview, Rep. Bryan Steil, a key figure on the House Financial Services Committee, confirmed that President Trump is urging Congress to prioritize the Digital Asset Market Clarity Act. The bill, which passed the House with a 294-134 vote in July 2025, is now under consideration in the Senate. Steil emphasized the bipartisan support for the legislation, noting “massive energy” behind it and Trump’s direct influence in pushing it forward.
Key points from Steil’s statement:
- Trump’s Directive: Steil confirmed that Trump explicitly wants the House to ensure the bill’s passage, aligning with his campaign promise to position the U.S. as a global leader in digital assets.
- Bill’s Purpose: The Clarity Act aims to define regulatory boundaries, clarifying which cryptocurrencies are commodities (overseen by the Commodity Futures Trading Commission) and which are securities (regulated by the Securities and Exchange Commission). For instance, “mature” blockchains like Bitcoin are classified as commodities.
- Bipartisan Momentum: The bill’s strong House vote, with 294 in favor, shows significant bipartisan backing, though its Senate fate remains uncertain as lawmakers may draft their own version.
Steil’s comments come amid a flurry of pro-crypto activity in Washington, including the recent signing of the GENIUS Act, which established regulations for stablecoins, and Trump’s executive order for a Strategic Bitcoin Reserve.
The Digital Asset Market Clarity Act: What It Means
The Clarity Act is designed to address long-standing complaints from the crypto industry about regulatory uncertainty in the U.S. By creating a clear framework, it aims to:
- Define Regulatory Roles: Specify which digital assets fall under the CFTC (e.g., Bitcoin, Ethereum) and which under the SEC (e.g., certain tokens), reducing legal ambiguity.
- Boost Industry Growth: Provide clarity to foster innovation, attract investment, and prevent companies from moving offshore due to regulatory hurdles.
- Protect Consumers: Implement guardrails to enhance market integrity without stifling development, balancing innovation with oversight.
The bill’s passage in the House, alongside the GENIUS Act and an Anti-CBDC Surveillance State Act, was part of a “Crypto Week” push in July 2025, championed by Trump and GOP leaders like House Financial Services Chair French Hill. However, Senate approval remains a hurdle, with some lawmakers advocating for a combined package that includes all three bills.
Why Trump’s Push Matters
President Trump’s vocal support for the Clarity Act is significant for several reasons:
- Policy Shift: Once a crypto skeptic, Trump has embraced digital assets, promising to make the U.S. the “crypto capital of the world.” His executive order in March 2025 to establish a Strategic Bitcoin Reserve, capitalizing on the government’s 200,000+ BTC holdings, underscores this commitment.
- Market Impact: A clear regulatory framework could unlock billions in institutional investment, further driving Bitcoin’s price, which some, like Anthony Scaramucci, predict could hit $180,000-$200,000 by year-end.
- Global Leadership: The bill positions the U.S. to compete with crypto hubs like Singapore and the UAE, potentially attracting blockchain startups and talent.
- Political Dynamics: Trump’s influence helped overcome resistance from conservative House Republicans who initially blocked a procedural vote in July, signaling his ability to rally GOP support.
Critics, including some Democrats like Rep. Maxine Waters, have raised concerns about potential conflicts of interest, noting Trump’s family ties to crypto ventures like World Liberty Financial. A provision in the GENIUS Act bans Congress members from profiting off stablecoins, but this does not extend to the president.
Current Bitcoin and Crypto Market Context
As of August 20, 2025, Bitcoin is trading at approximately $113,846, down 1.9% in the last 24 hours but up significantly year-to-date. The market is buoyed by:
- Institutional Inflows: Pension funds like Air Canada’s $161 million Bitcoin allocation and ETF inflows from BlackRock and Fidelity.
- Global Adoption: Moves like Buenos Aires accepting crypto for taxes and El Salvador’s Bitcoin legal tender status.
- Supply Constraints: The 2024 halving reduced daily Bitcoin issuance to 450 coins, amplifying demand-driven price potential.
If the Clarity Act passes the Senate and is signed into law, it could catalyze further price gains by reducing regulatory risks for investors and businesses.
What This Means for Investors
For crypto investors, Steil’s confirmation and Trump’s push signal:
- Opportunity: A clear regulatory framework could boost confidence, driving Bitcoin and altcoin prices higher.
- Risks: Senate negotiations and potential amendments could delay or alter the bill. Market volatility remains a factor.
- Action Steps: Consider regulated platforms like Coinbase or ETFs for exposure. Secure storage (e.g., hardware wallets) is critical.
Final Thoughts: It’s Happening in the U.S.!
Rep. Bryan Steil’s CNBC confirmation that President Trump is championing the Digital Asset Market Clarity Act marks a pivotal moment for Bitcoin and the crypto industry. With bipartisan support in the House and Trump’s backing, the U.S. is inching closer to a comprehensive crypto regulatory framework, potentially cementing its status as a global leader in digital assets. As the crypto community celebrates, “It’s happening!!!” this bill could be the catalyst for the next phase of Bitcoin’s meteoric rise.
Stay tuned for updates on the Clarity Act’s Senate progress, Bitcoin price movements, and more crypto news as this transformative story unfolds.
Disclaimer: This article is for informational purposes only and not financial advice. Cryptocurrency investments carry risks.