White House, SEC officials signal momentum behind Clarity Act for digital assets
Patrick Witt linked the Clarity Act to broader crypto rules beyond stablecoins, while SEC Commissioner Hester Peirce said she expects the measure to pass soon and possibly this summer.
Summary
White House Executive Director Patrick Witt and SEC Commissioner Hester Peirce both pointed to momentum behind the Clarity Act as part of a broader U.S. push to define crypto market rules. Witt said BlackRock, Visa, Mastercard and others are launching a new stablecoin and added, "What GENIUS did for stablecoins, the Clarity Act will do for all other digital assets." Peirce said she remains optimistic the bill will get done this summer and that she expects it to pass soon.
Terms & Concepts
- Clarity Act: Proposed U.S. legislation intended to create a broader regulatory framework for digital assets
- stablecoin: Crypto token designed to track a fixed value
- SEC: U.S. Securities and Exchange Commission, the federal securities regulator