White House crypto adviser Patrick Witt said he remains optimistic about the CLARITY Act and that the administration will continue working with Democrats ahead of a Senate cloture vote scheduled for September 15.
Witt made the remarks Tuesday at the annual SALT Wyoming Blockchain Symposium. The bill, which would establish a regulatory framework for digital assets, still faces unresolved disputes over stablecoin rewards and other provisions despite lawmakers reaching a compromise on how rewards could be offered.
The CLARITY Act has moved through the Senate Banking Committee and represents one of the few substantive crypto regulatory bills with bipartisan backing in Congress. Senate Banking Committee Chair Tim Scott said in prior statements that the stablecoin rewards dispute remains unresolved, a gap that could still block passage if the two chambers cannot align before the September vote.
The administration's public support from Witt, who serves as a senior adviser on crypto policy, comes as the Trump administration has stated openness to crypto regulation that distinguishes between different asset classes. The approach differs from the Biden administration's broader skepticism of the sector.
The September 15 cloture vote will determine whether the Senate can advance the bill to a floor vote. A successful cloture motion requires 60 votes to end debate. Democrats control 51 Senate seats, meaning the bill needs Republican support or unanimous Democratic backing to clear the procedural hurdle.
The unresolved stablecoin rewards language means floor negotiations may still determine the final outcome. The provision in question concerns how digital asset issuers could offer yield or rewards to holders, a mechanism that regulators have flagged as potentially conflicting with securities laws.
The Senate will cast the cloture vote on September 15, and if it passes, amendments could still be offered on the floor before a final vote.
