Summary
- Patrick Witt said Congress has spent years debating digital-asset market-structure legislation.
- He said Democrats were making an all-out effort to block a procedural vote on the CLARITY Act.
- Witt added that Sept. 15 is the effective deadline for the bill’s passage and that reaching an agreement afterward would be difficult.
Forecast Trend Report by Period
The head of the White House Digital Asset Advisory Council criticized Democrats for blocking a procedural vote on the CLARITY Act.
Patrick Witt, executive director of the White House Digital Asset Advisory Council, wrote on X on Aug. 9 that Congress has spent years debating digital-asset market-structure legislation. The Senate alone has been actively negotiating the CLARITY Act since last summer, he wrote.
Witt said Senate Democratic Leader Chuck Schumer and what he called “so-called Democratic lawmakers” spent last week trying to block even a simple procedural vote before the recess. They again sought an extension of the negotiation deadline, he added.
Sept. 15 will be the effective deadline for advancing the bill, Witt said. If no agreement is reached by then, it will be difficult to strike a deal afterward.
Uk Jin
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