CLARITY Act Review Scheduled for January, Says White House Official

According to Foresight News, David Sacks, the White House's head of cryptocurrency and artificial intelligence, announced via social media that a productive conversation took place with Tim Scott and John Boozman. They confirmed that the review of the CLARITY Act is set for January. Sacks expressed gratitude for their leadership and the support from House members French Hill and Glenn Thompson, stating that they are closer than ever to passing the landmark cryptocurrency market structure legislation called for by U.S. President Donald Trump. The goal is to complete this work in January. The CLARITY Act aims to establish a clear regulatory framework for the U.S. cryptocurrency market. It seeks to allocate regulatory authority between the SEC and CFTC based on the nature of the assets and the degree of blockchain decentralization. This initiative is intended to resolve longstanding regulatory uncertainties, promote innovation, and protect consumers.