Crypto market structure can't wait for shot at post-election Clarity Act surge: White House
Summary
White House crypto adviser Patrick Witt and Treasury official Luke Pettit said prospects for Congress to pass the Digital Asset Market Clarity Act during its year-end lame-duck session are poor after the Senate failed to advance it. Attention is shifting to SEC and CFTC action under their existing authority, though Witt warned that regulatory steps could face legal challenges without legislation. The officials said implementation of the GENIUS Act remains on track to meet its deadlines. Witt expects compliant and noncompliant stablecoins to compete once final rules are in place, and said U.S. oversight could support growth in tokenization.
