White House Targets July 4 for CLARITY Act Senate Passage

According to White House officials, the administration is targeting July 4 for Senate passage of the CLARITY Act, the first comprehensive U.S. digital asset market structure framework. Patrick Witt, a member of the President's Council of Advisors for Digital Assets, reaffirmed the goal in a recent interview, stating progress is being made daily. The legislation, which cleared the House with bipartisan support and advanced through the Senate Banking Committee, would classify most cryptocurrencies as digital commodities under CFTC oversight while SEC continues regulating investment contracts tied to digital assets.
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