White Home crypto adviser Patrick Witt says he’s nonetheless “optimistic and bullish” on the CLARITY Act, the 600-page invoice meant handy the US a federal framework for digital asset markets.
A September 15 deadline
Senators are away on August recess and will not be due again in Washington till mid-September.
Senate Majority Chief John Thune has already scheduled a cloture vote for September 15, a procedural step that might restrict debate and transfer the invoice towards a full vote.
Witt, talking Tuesday on the SALT convention in Wyoming, mentioned Republicans plan to make use of the approaching weeks to satisfy with Democrats and lock down votes earlier than that date.
The Home handed its personal model of the invoice again in July 2025, however the Senate has moved way more slowly, and the calendar is tight with one other break scheduled in October.
Stablecoin rewards reopen outdated wounds
Banks have spent months objecting to exchanges paying yield to customers merely for holding stablecoins, arguing it competes instantly with deposits.
A compromise brokered by Senators Angela Alsobrooks and Thom Tillis would ban rewards tied purely to holding, whereas nonetheless permitting them for funds and sure transactions.
That deal seemed settled till Tim Scott, the Republican chairman of the Senate Banking Committee, acknowledged Tuesday that the difficulty had resurfaced.
The identical combat already pressured a number of delays of the invoice within the spring, and rewards packages stay a significant income line for exchanges.
Trump’s conflicts nonetheless unresolved
Democrats proceed urgent for stricter guidelines on officers with crypto pursuits, a direct reference to Trump and his household’s ventures.
One proposal would bar public officers and their spouses from issuing or selling sure digital belongings, although investing would stay allowed, with the measure expiring in January 2029.
A separate effort from Senators Ruben Gallego and Tillis would let state attorneys normal implement elements of these guidelines.
Trump remains to be reviewing that model, and Senator Cynthia Lummis has mentioned she doesn’t know which manner he’ll go.