White House crypto officials say CLARITY Act’s year-end passage chances are low

The chances of the CLARITY Act passing by year-end are low, according to Patrick Witt, executive director of the White House crypto council, and Luke Pettit, assistant treasury secretary for financial institutions. Speaking at a CoinDesk policy and regulation event, the officials said whether lawmakers revisit the bill during the post-election lame-duck session will depend on the election outcome. Pettit said he does not consider the legislation entirely dead, but said attention has shifted to the administration while congressional sentiment toward the bill remains cold.