The Trump administration hopes the CLARITY Act, a major crypto market structure bill, can become law before the November midterm elections. Key advisor Patrick Witt stated regulatory clarity is needed to unlock trillions in institutional capital, but the issue of stablecoin yields remains a significant obstacle. Market prediction platforms currently assign only a 36% probability of passage by June.
The administration of President Donald Trump remains hopeful that the crypto market structure bill, the CLARITY Act, could be passed before the November midterm elections. Patrick Witt, executive director for the U.S. President’s Council of Advisors for Digital Assets, stated he believes the legislative process will be completed despite the required steps.
Witt acknowledged that stablecoin yield is the key issue derailing the bill’s progress. He added, “There are trillions of dollars in institutional capital on the sidelines waiting to get into this space. Regulatory clarity is the unlock.”
The White House has held two meetings to broker a stablecoin yield compromise between crypto and traditional finance industries. A third meeting is planned for next week to continue negotiations.
During talks, the banking industry emphasized principles including the safety of bank deposits. In response, crypto trade group The Digital Chamber released its own principles focused on preserving the U.S. dollar’s dominance.
U.S. Treasury Secretary Scott Bessent said the bill’s positive momentum would give ‘great comfort to the crypto market.’ He urged stakeholders to push for passage by Spring.
However, bettors on prediction platform Kalshi price only a 36% chance of the bill’s passage by June. The market assigns just a 22% probability of it becoming law by March.
