Clarity Act Could Become Law by July 4, White House Adviser Says
White House adviser Patrick Witt said the Clarity Act could become law by July 4 at the Consensus Miami conference on May 10. Senator Kirsten Gillibrand pushed for an ethics provision to be included in the bill during the same session.
The legislation would establish the first comprehensive market structure framework for digital assets in the United States.
What Was Said at Consensus Miami
Witt said the administration views the July 4 deadline as achievable, though he stopped short of calling it certain. Speaking on a policy panel, he said the White House has been coordinating with congressional leaders on the bill’s final shape.
Gillibrand, a Democrat from New York, said she would support passage only if an ethics provision covering political figures holding cryptocurrency was included. The CoinDesk article published May 10 covers both statements in detail.
The Clarity Act, a bipartisan cryptocurrency market structure bill, is designed to divide jurisdiction between the Securities and Exchange Commission and the Commodity Futures Trading Commission based on whether a digital asset is classified as a security or a commodity.
The bill would give most major tokens, including Bitcoin (BTC) and Ethereum (ETH), a clearer regulatory path under CFTC oversight.
Background
Congress has been working on cryptocurrency market structure legislation since 2023, with multiple draft bills circulating before the Clarity Act emerged as the leading vehicle in 2025. A prior framework bill passed the House in 2024 but stalled in the Senate over disagreements about which agency should hold primary oversight.
The current bill incorporates language from both chambers’ previous drafts. Gillibrand’s ethics demand is a newer addition, driven by public debate over President Donald Trump‘s cryptocurrency ventures and the broader question of whether elected officials should be allowed to hold or profit from digital assets they regulate.
Also Read: The Cryptocurrency Market’s $420 Billion Six-Week Recovery and What is Driving It
What Comes Next
The bill still needs to pass both chambers and survive any conference reconciliation before it can reach the president’s desk.
Gillibrand’s ethics provision is the clearest sticking point. If Congress is in recess for parts of June, floor time becomes tight before the July 4 window closes.
Watch for a Senate committee vote in late May as the first real signal of whether the timeline is realistic. Markets have historically responded to regulatory clarity signals with short-term positive price action across major tokens.
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