White House vows to get CLARITY across ‘finish line’ in September
Patrick Witt says the Trump administration will keep negotiating with Democrats as the Senate prepares for a September CLARITY vote.
The White House is committed to ensuring understanding of the CLARITY Act before the end of September, according to the administration's chief cryptocurrency policy official, Patrick Witt. Witt stated that despite the Senate's decision to postpone a vote on the bill until after its August recess, the administration will continue to engage in negotiations with Democrats leading up to the September vote.
The CLARITY Act aims to create a federal market framework for digital assets, including guidelines on when crypto tokens are considered securities or commodities and how trading platforms should be regulated. However, several contentious issues still need to be resolved before the September vote. The Senate has not yet reached an agreement on stricter ethics provisions that address Trump's connections to crypto interests.
Additionally, banking organizations have advocated for changes to the rules that might permit companies to provide rewards to stablecoin holders.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
