White House Sticks to September Timeline for CLARITY Act

The White House remains committed to passing the CLARITY Act in September, despite the Senate's decision to delay action until after its August recess.

Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, said that the administration will continue negotiating with Democrats 'all the way up until the September vote.'

The CLARITY Act aims to establish a federal market structure for digital assets, including rules governing when crypto tokens fall under securities or commodities laws and how trading platforms are regulated.