White House Reviewing Crypto Clarity Act Draft Amid Deadline Pressure

The crypto Clarity Act is facing a tight deadline as the White House reviews the latest draft of the bill. According to reports, bipartisan language drafted by Senator Thom Tillis and sent to the White House last week is currently being reviewed behind closed doors.

Tillis stated that 'we've got people working with the White House right now... they're going through some of the lines right now.'

The Senate Majority Leader John Thune declined to file cloture on the crypto market structure bill, leaving negotiators with a narrow window to reach consensus. Despite optimism from top crypto companies and backing from major financial institutions, lawmakers appear to be prioritizing other bills before their five-week break.