- The White House plans to push for the passage of the Cryptocurrency Transparency Act by July 4.
- The stablecoin reward compromise removes a major hurdle in ongoing cryptocurrency law negotiations.
- The White House supports general ethics standards but opposes restrictions on specific politicians.
According to White House digital asset advisor Patrick Witt, the White House intends to introduce the Clearing the Digital Asset Market Transparency Act (CLARITY) to Congress by July 4. He added that the Senate Banking Committee is expected to consider the bill in late May.
Whitt also stated that the disagreement over stablecoin rewards has been largely resolved, as already Wrote redaction Happy Coin NewsHowever, negotiations are still ongoing regarding ethical standards concerning civil servants and their families.
Speaking about the progress of work on the bill, Witt сообщилThe administration has reached a compromise position that is equally unsatisfactory for both cryptocurrency companies and banks. According to a White House spokesperson, the administration considers the issue of stablecoin yields “closed.” He suggested that lawmakers reached consensus on the revised concept after lengthy negotiations between the banking industry and digital asset companies.
Crypto industry representatives support the White House’s decision. Coinbase General Counsel Paul Grewal, in an interview at the Consensus 2026 conference, stated that the updated legislation preserves the functions most important to the crypto exchange’s stablecoin business and to financial markets in general. He also called on banking groups to accept the agreement after several months of negotiations.
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