White House target: Pass the CLARITY Act on 7/4—The Senate Banking Committee will review it article by article in May, and it will be submitted to the full Senate for a vote in June.

White House digital assets adviser Patrick Witt disclosed specific timelines on May 6 (U.S. time) to the public: the White House aims to pass the House version of the Digital Asset Market Clarity Act (Digital Asset Market Clarity Act) before July 4, before U.S. Independence Day. Decrypt, citing Witt (executive director of the President’s Digital Assets Advisory Committee), said he explained, “There’s not a lot of slack on the rope right now, but this timeline is achievable.” Witt also revealed the progress on two legislative sticking points: a Tillis-Alsobrooks compromise on stablecoin yield has been finalized; and a conflict-of-interest provision tied to Trump’s crypto interests—where the White House argues it should apply to all officials rather than targeting any single person.

Legislative timeline: May: line-by-line review by the House Financial Services Committee; June: sent to the chamber floor

Witt’s provided schedule:

May: Senate Banking Committee conducts line-by-line review (markup)

June: 4 working weeks for Senate floor voting

Before July 4: complete final passage of the House version

Witt said the timeline “doesn’t have much room,” but he still believes it can be met. This case is the first clear deadline the White House provided after the CLARITY Act appeared in a draft version in April; previously, the White House had said that after the CLARITY Act passes, the crypto industry would “take off like a rocket,” but it had not given a timeline.

Stablecoin yield dispute: Tillis-Alsobrooks compromise “already settled”

One of the core disputes in the CLARITY Act legislative process is whether “crypto companies can offer stablecoin yields” conflicts with “bank deposit interest.” The compromise scheme that North Carolina Sen. Thom Tillis and Maryland Sen. Angela Alsobrooks have been coordinating—Witt said—has been finalized.

abmedia’s May 5 report notes pushback from the banking industry against the CLARITY Act’s stablecoin incentive provisions—banks believe that having crypto companies provide stablecoin yields would weaken protections for bank deposits. This Tillis-Alsobrooks compromise represents a version acceptable to both sides that the Senate has found.

Conflict-of-interest clause: White House wants it to apply to “all officials,” not just Trump

Another sensitive point in the CLARITY Act is the conflict-of-interest clause—advocates argue that it should bar officials who hold crypto assets from influencing crypto policy, effectively aimed at Trump’s family’s crypto interests. The White House’s stance in response:

Support adding the conflict-of-interest clause

But require the clause to “apply to all officials,” not single out any specific person

The White House considers this version of the clause an acceptable compromise

Specific developments to watch next: the opening date for the Senate Banking Committee’s line-by-line markup in May, how the agenda for the 4-week floor vote in June is arranged, and the final voting day in the House. Witt’s schedule puts the Senate as the main bottleneck; if the Senate delays, the House passage timeline by July 4 faces added pressure.

This article White House aims to pass the CLARITY Act by 7/4: May Senate Banking Committee line-by-line review, June sent to the chamber floor first appeared on Chain News ABMedia.