White House, Treasury officials see low odds of CLARITY Act passing by year-end

Patrick Witt, executive director of the White House crypto council, and Luke Pettit, assistant treasury secretary for financial institutions, said the chances of the CLARITY Act passing by year-end are low.

Speaking at a CoinDesk policy and regulation event, the two expressed similar views and said whether the bill is taken up again during the post-election lame-duck session will depend on the election outcome. Pettit added he does not believe the CLARITY Act is entirely dead, but attention has now shifted to the administration, while sentiment toward the bill in Congress remains cold.

Source: Coinness