White House Crypto Advisor: Passage Becomes Unlikely if CLARITY Act Is Not Advanced by September 15

August 9th, White House cryptocurrency advisor Patrick Witt wrote on Platform X stating that the U.S. Congress has been pushing for cryptocurrency market structure legislation for many years, and the Senate has been negotiating the "CLARITY Act" since last summer. However, in the past week, Chuck Schumer and the so-called "crypto-friendly Democrats" blocked the bill from a procedural vote before recess and called for further delay.

Patrick Witt warned that if the bill does not make progress by September 15th, the chances of it passing in the future will be significantly reduced.