White House Targets CLARITY Act Passage Before July 4
Tech White House Targets CLARITY Act Passage Before July 4White House targets CLARITY Act passage before July 4 as Senate talks advance.Stablecoin rewards compromise clears a major hurdle in ongoing crypto bill negotiations.White House backs broad ethics rules, opposes politician-specific restrictions. The White House is aiming to move the Digital Asset Market Clarity Act through Congress before July 4, according to White House digital assets adviser Patrick Witt, who said the Senate Banking Committee is expected to advance the legislation later this month. The update shows a continued momentum for the crypto market structure bill after months of delays tied to disagreements over stablecoin yield provisions and conflict-of-interest language. Witt also stated that discussions surrounding the stablecoin rewards issue are now largely settled, while separate negotiations continue over ethics rules linked to public officials and their families. Speaking on the legislations progress, Witt said the administration had reached a compromise position that left both crypto firms and banks dissatisfied to a similar degree. According to Witt, the administration considers the stablecoin yield issue “closed,” suggesting that lawmakers have aligned on a revised framework following extended negotiations between the banking industry and digital asset companies. Stablecoin Rewards Compromise Advances Senate Discussions The latest reforms follow a compromise