The Trump administration is accelerating plans to finalize the legal framework for the cryptocurrency market in the US, aiming to have the CLARITY Act become law before July 4, 2026. This information was revealed by Patrick Witt, a senior crypto advisor to the White House, amidst Washington's increasingly open stance towards the digital asset industry since Trump's return to the White House.
According to Patrick Witt, the US Senate could push for a vote in June, before the House of Representatives finalizes the passage and agreement on the final version of the bill. If things proceed as planned, this would be the first time the US has established a comprehensive federal framework for crypto regulation, creating a clear legal foundation for the entire blockchain and digital asset industry.
The most crucial aspect of the bill lies in the Chia of oversight between the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). For years, the overlap between these two agencies has been one of the biggest obstacles for crypto companies operating in the US. The SEC tends to XEM many Token as securities, while the CFTC considers Bitcoin and some other digital assets as commodities. This lack of clear legal boundaries has left numerous blockchain businesses facing the risk of lawsuits or having to relocate their operations overseas.
