[Brief] White House Targets July 4 for Clarity Act Passage, Crypto Regulatory Framework Nears
White House digital assets adviser Patrick Witt said the goal is to pass the Clarity Act by July 4, which aims to provide a clear regulatory framework for the crypto industry.
Witt revealed that the Senate Banking Committee will hold a hearing on market structure this month. Coinbase CLO Paul Grewal also backed the bill’s passage this summer and urged banks to accept the stablecoin compromise.
This marks an acceleration in the US crypto regulatory legislative process.