White House Holds Firm on Independence Day Target The White House is sticking to its goal of enacting the CLARITY Act before July 4, with Patrick Witt, executive director of the White House D
The White House is sticking to its goal of enacting the CLARITY Act before July 4, with Patrick Witt, executive director of the White House Digital Assets Advisory Council secretariat, reaffirming that position in a recent interview.Witt said both sides are holding close daily negotiations and that he remains confident the target deadline can be met.
Speaking earlier at Consensus Miami, Witt framed the deadline in symbolic terms, saying passage would be "a tremendous birthday present for America, celebrating our 250th."He acknowledged the compressed schedule while expressing confidence in its feasibility, saying: "There's not a lot of slack left in the rope right now. But it is an achievable timeline."
The White House has also defended the bill's balance, with Witt noting that both banks and crypto firms are equally dissatisfied, which he views as a sign the compromise is calibrated correctly.
The CLARITY Act is designed to create a national regulatory framework for digital assets by defining the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission. The bill also addresses decentralized finance, stablecoin-related provisions, developer protections, illicit finance rules, and market oversight standards.
The House approved its version, H.R. 3633, in July 2025 by a 294-134 vote, while the Senate Banking Committee advanced its version on May 14, 2026, by a 15-9 vote.The bill still needs to be merged with a similar version approved by the Senate Agriculture Committee, and lawmakers must resolve a sticky conflict-of-interest provision before a final version is available for a full Senate vote, where 60 yes votes will be required.
The July 4 goal is linked to the administration's broader effort to deliver a major digital asset law during America's 250th anniversary year.That timeline runs ahead of the prediction Sen. Kirsten Gillibrand shared at Consensus Miami, where the New York Democrat predicted the bill would reach the president's desk by the first week of August.Passage by July 4 appears challenging, as Senate timing, ethics language, and unresolved House-Senate differences remain outstanding.
Sources:CoinDesk: White House targets July 4 for Clarity Act passageCoinPaper: Why passing the CLARITY Act by July 4 is a challengeCNBC: Clarity Act clears Senate Banking Committee
