White House Seeks September Passage of CLARITY Act in Cryptocurrency Regulatory Push

The White House is urging the US Senate to pass the CLARITY Act in September, a legislation that aims to provide clarity on federal regulations for digital assets. The bill has been pending since June and was originally scheduled for consideration in July.

Senate Majority Leader John Thune filed a cloture motion for the bill, which requires 60 senators to support it before moving forward. This means the bill needs bipartisan support from both Democrats and Republicans.

The White House's senior crypto adviser, Patrick Witt, has repeatedly emphasized the importance of regulatory clarity in the US digital-asset market. He stated that the administration remains fully committed to getting the legislation passed.