The US administration is accelerating the advancement of the crypto law CLARITY Act. White House digital assets adviser Patrick Witt said that the authorities expect to push the document through Congress by July 4. For the industry, this could become the most important regulatory decision in recent years.
The timeline looks aggressive. But in Washington, they believe the window for passing the law is still open.
White House Tries to Speed Up the Process
According to Witt, the key stage will begin as early as May. The Senate Banking Committee is expected to consider the bill in the coming weeks.
After that, the Senate will have four working weeks in June for a full vote. Then the document will go to the House of Representatives.
The administration wants to complete the process by US Independence Day. Such a deadline underscores the political significance of the law.
The Stablecoin Debate Is Essentially Closed
One of the main obstacles was the issue of stablecoin yield. Banks opposed models that resembled deposit products.
A compromise has already been agreed upon. The law will prohibit yields similar to bank deposits but will preserve the possibility of rewards for using crypto services.
According to Witt, both sides remain dissatisfied. That is why the White House considers the agreement workable.
Banks and Industry Left Without a Complete Victory
The final formula gave no advantage to anyone. Crypto companies received restrictions, and banks retained part of their competitive protection.
This is important for the passage of the law. A complete victory for one side could have derailed the process.
Now attention is shifting to other contentious points. First and foremost—the conflict of interest among officials.
White House Wants Uniform Rules for Everyone
A separate discussion concerns restrictions for politicians and their families. The issue has escalated due to Donald Trump’s interests in the crypto industry.
The administration is proposing a universal model. Restrictions should apply to all officials—from the president to congressional staff.
At the same time, the White House opposes personal restrictions for individual politicians or families. This remains one of the most sensitive topics in the negotiations.
Law Seen as a Strategic Issue
In Washington, there is increasing talk of global competition. According to the administration, the US risks losing control over the formation of digital asset market rules.
Witt stated directly that America does not want to become a country that follows someone else’s standards. As a potential competitor, he mentioned China. This approach changes the rhetoric. The crypto market is increasingly seen as an element of economic and technological influence.
GENIUS Act Strengthens Overall Reform
Work is simultaneously underway on the GENIUS Act, which regulates the issuance of stablecoins. US agencies are currently preparing rules for the document’s application. The US Treasury, OCC, and FDIC are participating in the process. This shows the scale of the changes. Washington is gradually building a full-fledged digital asset regulatory system.
Industry Awaits Clarity
For the crypto market, the CLARITY Act remains a key law. It should define the status of companies, asset circulation rules, and regulator powers.
Without this, the market continues to live in a state of uncertainty. Companies are forced to adapt to different interpretations of the rules. That is why the industry is closely watching the timeline. Any slowdown in the process could again increase pressure on the sector.
Political Factor Becomes Increasingly Noticeable
The crypto market is gradually becoming part of American politics. The law is being discussed not only as a financial reform but also as an element of technological strategy.
Against this backdrop, the timeline takes on special significance. Passing the law by July 4 will be a symbolic signal for the industry and the international market. If the process drags on, pressure from business will intensify. Especially amid growing competition between jurisdictions.
What This Means for the Market
Advancing the CLARITY Act reduces uncertainty. The market gets a signal that US authorities are ready to move from piecemeal decisions to a full-fledged system of rules.
This is important for major players. Institutional capital is waiting for a clear regulatory model. At the same time, the final text of the law may still change. Negotiations continue, and contentious issues remain.
What’s Next?
The next milestone is the Senate Banking Committee meeting in May. If the law passes this stage, the chances of adoption will rise sharply. After that, attention will shift to the June votes. These will determine whether the White House can implement the plan by July 4.
This is a critical period for the market. The outcome of the process will determine not only stablecoin regulation but also the overall model for the development of the crypto industry in the US.
Read more: Bitcoin fell after Trump questioned the truce with Iran
