ICYMI: Sen. Chris Murphy on the risks of crypto to democracy and national security
President Trump and his family have made more than $2 billion from cryptocurrency ventures since his 2024 reelection, including deals that traded America’s national security for Trump’s personal profit.
Against this backdrop, Congress is considering legislation called the Digital Asset Market Clarity (CLARITY) Act that would give cryptocurrency markets a veneer of oversight and consumer protection but with gaping carve-outs and exceptions from the laws that protect investors, consumers, and our financial system. The bill would grant legitimacy to the Trump family’s crypto empire by giving Trump control of this new regulatory system while allowing potential corruption to continue.
Yesterday, Sen. Chris Murphy (D-CT) joined CAP President and CEO Neera Tanden for a timely conversation on the threat of Trump’s crypto-corruption scheme and why the CLARITY Act would fail to effectively regulate Trump and the crypto industry.
On Monday, President Trump announced a new wave of 50% tariffs on Canadian goods; this comes days before the administration’s Section 122 tariffs—a 10% import tariff on goods—are set to expire on Friday, July 24.
Ahead of this, it is worth assessing what these 10% import tariffs have achieved, especially as the administration readies new tariffs on 60 different countries that are likely to take effect in the coming weeks. The short answer is very little, if anything—other than raising costs for American businesses, manufacturers, and consumers.
An update on Montana’s fight to undo Citizens United
Following Hawaii, Montana could be the next state in the union to get dark and corporate money out of its politics. Montana county officials have verified the 50,000-plus signatures the Transparent Election Initiative (TEI) submitted in its bid to put the Montana Plan on the ballot this fall, and the certified petitions are now with the secretary of state. The Montana Plan, inspired by CAP’s Corporate Power Reset project, amends state law to no longer extend corporations the power to spend in Montana’s politics.
TEI crushed the 30,000-signature requirement. From here it's a short runway: The secretary of state runs her own statutory review and certifies the November ballot by August 20.
Stay tuned for more Montana news and hear from Pete Buttigieg on the state’s effort to end political corruption:
America’s immigration system has been broken for far too long. Congressional inaction going back decades has resulted in an antiquated legal framework that has failed to keep pace with our economic needs and changing global trends. Instead of implementing sensible policies, like those outlined in our Path Forward for a new immigration system, the Trump administration is systematically pursuing a cruel and reckless agenda, gutting legal immigration pathways, and deploying indiscriminate enforcement tactics that have a total disregard for human life.
Americans deserve a modern immigration system that is consistent with our values and serves our economic needs. Please join CAP and America’s Voice on Wednesday, July 29, at 9:30 a.m. ET to hear from Sen. Catherine Cortez Masto (D-NV) and a panel of experts on the Trump administration’s cruel and reckless anti-immigration and mass deportation agenda as well as the urgent need for accountability and commonsense policies that are consistent with our values and economic needs.
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