Crypto Leaders More Optimistic on Clarity Act After White House Meeting
Crypto leaders are more optimistic about the Clarity Act after a series of high-level meetings with administration officials at the White House. On Wednesday, President Donald Trump met with crypto executives to discuss the bill's passage, which has been stalled in the Senate due to bipartisan concerns over his family's extensive crypto dealings.
The CFTC's Innovation Advisory Commission also convened on Thursday, where Chairman Michael Selig announced that the agency will begin exploring rules to codify a market structure for crypto assets using existing authorities. This move is seen as a step towards accomplishing the goals of the Clarity Act, although it does not have the imprimatur of Congress.
Despite this development, Democrats remain opposed to the bill as written, insisting on adding conflict-of-interest provisions targeted at Trump and his family. The Senate leadership is now hoping to tee up a vote as soon as Congress returns in session on September.