TechFlow News, May 7: According to a CoinDesk report, Patrick Witt, Executive Director of the White House Digital Assets Advisory Committee, stated at Consensus Miami 2026 that the White House has set July 4 as the target date for the House of Representatives to pass the Digital Asset Markets Clarity Act (Clarity Act). The specific timeline is as follows: the Senate Banking Committee will complete its markup process this month; the full Senate vote will proceed during four Senate work weeks in June; and the bill will then be sent to the House of Representatives for final passage before Independence Day.
Regarding core contentious issues in the bill, Senators Thom Tillis and Angela Alsobrooks have reached a compromise on the stablecoin yield provision—prohibiting stablecoins from offering yields equivalent to bank deposits, while preserving rewards tied to consumer spending. Witt stated this issue is “closed.” Additionally, the White House is pushing to extend the conflict-of-interest provisions to cover all government personnel, “from the President down to congressional interns,” and explicitly opposes targeted provisions aimed at specific officials or their families.
Witt also warned that if the U.S. fails to establish regulatory leadership by 2026, it will be forced to follow rules set by other countries—“God forbid it’s China setting those rules.”
