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White House Crypto Adviser Says CLARITY Act Could Cover Most Industry Regulatory Needs

Patrick Witt said the CLARITY Act could deliver about 90% of the crypto industry’s needed regulatory framework, describing it as a key U.S. bill for compliance, market structure, and sector development.

Summary

White House crypto policy adviser Patrick Witt said the CLARITY Act could provide about 90% of the regulatory framework and policy certainty the crypto industry needs. He described the measure as one of the most critical U.S. crypto bills, saying it has the potential to balance compliance requirements, market structure, and industry development. The new remarks expand on earlier reporting by emphasizing the bill’s broader role in shaping U.S. crypto policy.

Terms & Concepts
  • CLARITY Act: A proposed U.S. crypto bill that Patrick Witt said could address most of the industry’s regulatory framework and policy certainty needs.
  • Market structure: The regulatory and operational framework that determines how a financial market is organized, supervised, and functions.
  • Compliance: The process of meeting legal, regulatory, and supervisory requirements that apply to companies and market participants.