White House targets July 4 for Clarity Act passage, says crypto adviser Patrick Witt
The executive director of the President's Council of Advisors for Digital Assets said the Senate Banking Committee hearing will happen this month on market structure. bill.
AI Summary
Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, announced that the White House is targeting July 4 for passage of the Digital Asset Market Clarity Act, with the Senate Banking Committee markup scheduled for this month and four working Senate weeks in June planned for floor passage. Witt stated that a stablecoin-yield compromise between Senators Thom Tillis and Angela Alsobrooks has been finalized, and the White House is pushing for a broad conflict-of-interest provision rather than one targeting specific officeholders. The proposed timeline aims to have the bill passed through Congress before Independence Day, ahead of earlier predictions that it would reach the president's desk by early August.