CLARITY Act Still Has Path Through Senate, But Time Is Running Out
The White House's crypto advisor, Patrick Witt, remains optimistic about the Senate's chances of passing the CLARITY Act, despite concerns that lawmakers are running out of time.
In an interview with Semafor on September 10, Witt said he feels 'very good' about where Republicans stand on the bill, suggesting support could be as high as all 53 Republican senators. However, negotiations continue over stablecoin rewards, crypto ethics rules, and law-enforcement concerns.
A key compromise has been reached, prohibiting passive 'idle yield' while allowing rewards linked to customer activity. Even President Trump has agreed to restrictions preventing federal officials from issuing or sponsoring digital assets, although Democrats are seeking additional ethics safeguards.
The biggest risk may be time: passing major legislation becomes increasingly difficult after the midterm elections, particularly during a lame-duck Congress or later in a presidential administration.