White House Sets July 4 Deadline for Crypto Market Structure Bill

The White House is pushing for passage of a crypto market structure bill by July 4, according to an unnamed official.

The timeline matches earlier public remarks from Patrick Witt, executive director of the President's Council of Advisors for Digital Assets.

The bill, known as H.R. 3633 or the CLARITY Act, aims to establish clearer rules for digital assets and provide joint SEC-CFTC rulemaking.

Initial momentum was seen after the Senate Banking Committee advanced H.R. 3633 on May 14, but challenges remain in reconciling the draft with the Senate Agriculture Committee's Digital Commodity Intermediaries Act.