The White House has reaffirmed its commitment to passing the CLARITY Act in September despite the Senate’s decision to delay action until after its August recess. Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, said the administration would continue negotiating with Democrats until the September vote. The procedural cloture vote, requiring 60 votes, is expected in mid-September. The CLARITY Act would establish a federal market structure for digital assets, defining when crypto tokens fall under securities or commodities laws. Several disagreements remain unresolved, including ethics provisions targeting Trump-linked crypto interests and rules on stablecoin holder rewards.
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