White House Officials Say Clarity Act Unlikely to Pass This Year, Regulatory Push Accelerates

White House crypto advisor Patrick Witt and Treasury official Luke Pettit stated at the CoinDesk policy and regulatory event that the chances of the Clarity Act passing Congress this year are slim, with a rather cold atmosphere in Congress. The focus will shift to regulatory agencies. The SEC and CFTC have made progress and will move forward with regulation under their existing authorities, emphasizing that there is no time to waste. Meanwhile, the Treasury is drafting implementation guidelines for the GENIUS Act regarding stablecoins.

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