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Key Insights:
- CLARITY Act talks are down to a handful of final issues after yearlong negotiations.
- Trump wants the CLARITY Act completed in September before Congress enters recess.
- SEC and CFTC could advance crypto regulations if lawmakers fail to pass the bill.
The CLARITY Act has entered what White House crypto adviser Patrick Witt described as a “binary stage” after prolonged negotiations. While speaking at the SALT Conference in Wyoming, Witt said lawmakers have narrowed discussions to several final issues following more than a year of bipartisan negotiations.
The comments came as President Donald Trump renewed pressure for Congress to finish the digital asset market structure bill. The White House meeting also signaled regulators could move independently if lawmakers fail to reach an agreement.
CLARITY Act Talks Narrow to Final Issues
Witt’s remarks placed the CLARITY Act closer to a decisive point after months of negotiations between both parties. He said discussions now center on a small number of unresolved issues that could determine the bill’s outcome.
In an interview with FOX Business, Digital Chamber CEO Cody Carbone said the CLARITY Act was a major focus of the White House crypto meeting. He said Trump wants the bill completed and hopes to sign it into law in September.
The Senate is expected to begin its procedural consideration of the bill in mid-September. Lawmakers then face a three-week session before a lengthy October recess ahead of the November midterm elections.
Carbone said the September window matters because legislating becomes more difficult during the recess and election period. He added that Republicans and Democrats remain motivated to complete the measure before that point.
White House Signals Agencies Could Move Without Congress
The meeting also addressed what could happen if the CLARITY Act fails to advance. Carbone said the administration does not plan to wait indefinitely for legislation before pursuing crypto regulations.
He said the Securities and Exchange Commission and Commodity Futures Trading Commission have White House support to move quickly. SEC Chairman Paul Atkins and CFTC Chairman Michael Selig also attended the meeting.
Carbone said both agency leaders support congressional action but could become more active if the bill stalls. He said regulators may pursue several provisions through the regulatory process if lawmakers cannot complete the legislation.
That approach could shift more responsibility toward the SEC and CFTC if the September push fails. However, Carbone said participants still viewed congressional passage as the preferred outcome during the meeting.
CLARITY Act Would Define Digital Assets and Agency Roles
The CLARITY Act would create legal definitions for digital assets, network tokens, and digital commodities. It would also assign responsibilities to the SEC and CFTC while seeking to prevent overlapping or contradictory rules.
Carbone said the framework would provide longer-term certainty for builders, issuers, platforms, and investors. He also said the bill would add consumer protections and disclosure requirements across the digital asset market.
The meeting included representatives from crypto companies, traditional finance, exchanges, and other technology sectors. Participants also discussed artificial intelligence, blockchain development, and broader U.S. technology policy during the session.
Carbone said Trump repeated his goal of making the United States a leading center for crypto and innovation. He also described relief that the administration planned to continue acting despite uncertainty surrounding the legislation.
For now, the legislative focus remains on the remaining issues and the Senate’s September schedule. The CLARITY Act could advance during that session if negotiators resolve the final disputes.
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