White House Rejects Proposed CLARITY Act Changes
The White House has rejected proposed changes to developer protections in the CLARITY Act, signaling another dispute over the stalled crypto market structure bill.
US law enforcement groups reportedly asked the administration to revise provisions in the Blockchain Regulatory Certainty Act, which is included in the broader legislation. The proposal sought to clarify that protections for blockchain developers would not create, expand or alter criminal liability under federal law.
White House crypto adviser Patrick Witt said the suggested language was “not even close” to the administration’s position and did not reflect productive negotiations.
The bill is also facing opposition from Democrats over ethics provisions related to President Donald Trump’s crypto holdings. Senate Majority Leader John Thune has not scheduled a vote, and lawmakers are unlikely to complete the required procedural steps before the Senate’s August recess.
The CLARITY Act would shift significant oversight of digital assets from the Securities and Exchange Commission to the Commodity Futures Trading Commission. Critics have warned that the CFTC currently has fewer enforcement resources and remains understaffed.
The White House has rejected proposed changes to developer protections in the CLARITY Act, signaling another dispute over the stalled crypto market structure bill.
US law enforcement groups reportedly asked the administration to revise provisions in the Blockchain Regulatory Certainty Act, which is included in the broader legislation. The proposal sought to clarify that protections for blockchain developers would not create, expand or alter criminal liability under federal law.
White House crypto adviser Patrick Witt said the suggested language was “not even close” to the administration’s position and did not reflect productive negotiations.
The bill is also facing opposition from Democrats over ethics provisions related to President Donald Trump’s crypto holdings. Senate Majority Leader John Thune has not scheduled a vote, and lawmakers are unlikely to complete the required procedural steps before the Senate’s August recess.
The CLARITY Act would shift significant oversight of digital assets from the Securities and Exchange Commission to the Commodity Futures Trading Commission. Critics have warned that the CFTC currently has fewer enforcement resources and remains understaffed.