White House Convenes Crypto Industry Amidst Delays in Clarity Act

The White House is set to convene key figures from the cryptocurrency and prediction market industries next week, amidst delays in Congress's handling of the Clarity Act. The meeting coincides with a new Innovation Advisory Committee meeting at the U.S. Commodity Futures Trading Commission (CFTC), which will also feature a panel of experts from the same fields.

The industry has seen a delay in the passage of the Clarity Act, a cryptocurrency market structure bill, but regulators continue to pursue pro-cryptocurrency measures. The administration and regulators are widening their points of contact with the industry, as evident from the meeting next week and the CFTC schedule.

The central backdrop to the meeting is that a slip in the Clarity Act's timetable does not mean the policy direction has stopped. A new draft of the bill includes an ethics provision banning government officials from promoting cryptocurrencies or profiting through them, which is seen as a positive development for the industry.