Custodia Bank CEO Caitlin Long stated that crypto ventures linked to the Trump family have complicated bipartisan efforts to pass the CLARITY Act. Speaking at an industry event, she characterized the bill’s chances in the Senate as a “coin flip.” Long emphasized that without Congressional legislation, crypto regulation could be more easily reversed by future administrations.
Custodia Bank CEO Caitlin Long said controversies tied to President Donald Trump’s family are partly to blame if Congress fails to pass the CLARITY Act. She stated that Trump-associated meme coins and other ventures have made securing bipartisan support more difficult.
Long noted that Wyoming Senator Cynthia Lummis has said these activities made her job harder. She said the bill’s prospects in the Senate remain highly uncertain at this point.
“I think it’s a coin flip at this point,” Long said. “I wouldn’t be surprised either way, if it gets enacted or it dies.”
The CLARITY Act would create a comprehensive regulatory framework for digital assets, splitting oversight between the SEC and the CFTC. It passed the House but has been delayed in the Senate over disputes concerning DeFi and stablecoin provisions.
Long explained that regulations made by agencies lack the permanence of statutes passed by Congress. “When a new administration comes in, those rules can be reversed through new rule-making,” she stated.
She identified ethics concerns linked to the Trump family’s crypto involvement as a major obstacle. Long said Democrats, particularly Senator Elizabeth Warren, have been very outspoken against these activities.
She pointed to bipartisan cooperation on crypto policy from Senators Lummis and Kirsten Gillibrand. Despite the extended market downturn, Long said long-term participants view a 50% drawdown as routine.
“Bear markets are the best time to get self-educated,” Long advised. “Best advice I’ve always given is just invest in yourself, because this is something that you’re not going to learn in school.”
