White House Accuses Democrats of Stalling CLARITY Act Crypto Bill

cryptonews.ruОпубліковано о 2026-08-10Востаннє оновлено о 2026-08-10

Анотація

The White House accuses Democrats of obstructing the CLARITY Act, a key cryptocurrency bill. Patrick Witt, Executive Director of the President’s Council on Digital Assets, stated that Democrats did everything to prevent the bill from being passed before the Congressional recess, which began on August 7th. He warned that if the bill is not addressed by September 15th, it may never be approved. The CLARITY Act aims to provide greater legitimacy and opportunities for crypto projects in the U.S. However, Democrats express concerns over unresolved issues, such as the yield on stablecoins potentially drawing customers away from traditional banks and exemptions for decentralized projects from anti-money laundering and user verification rules. They also raise questions about a conflict of interest regarding former President Donald Trump, who reportedly earned approximately $1.4 billion from crypto ventures in 2025 and is promoting the bill. Republicans pushed for a vote before the recess, while Democrats insisted on resolving outstanding issues first to avoid future corrections. An article in The Wall Street Journal criticized the bill as containing many "delayed-action mines," highlighting the partisan divide. Witt dismissed the Journal's coverage as unworthy of attention, claiming it echoes Wall Street banks' talking points.

Patrick Whitt, the Executive Director of the US Presidential Council on Digital Assets, stated that Democrats have done everything to prevent the CLARITY Act bill from being passed. According to the White House's top crypto advisor, the document may never be approved by them.

At the end of last week, Democratic senators, preparing to go on recess, insisted that the vote on the landmark bill for the crypto industry should not be held before the break began. The US lawmakers' vacation started on August 7 and will last until mid-September. Upon their return, the senators' attention will likely be focused on the November midterm elections.

"Last week, Chuck Schumer and 'crypto-supporting Democrats' did everything they could to block a simple procedural vote on the bill before the Congressional recess, demanding another delay. If they don't make it by September 15, they may never make it," wrote Whitt.

The CLARITY Act aims to grant greater legitimacy to crypto projects, opening up broad opportunities for them in the US. However, Democrats believe unresolved issues remain, such as the yields on stablecoins that could lure customers away from traditional banks into the crypto sphere, and exemptions for decentralized projects from anti-money laundering requirements and user verification.

The issue of a conflict of interest for US President Donald Trump, who is promoting the CLARITY Act, is also being raised by Democratic Party representatives. In 2025, Trump's total income from crypto projects amounted to approximately $1.4 billion.

On August 4, The Wall Street Journal published an article analyzing senators' positions on the CLARITY Act, calling it a law with numerous "delayed-action mines." It was noted that Republicans rushed to pass the document before the recess, while Democrats insisted it should not be done while unresolved issues remain, to avoid later having to correct mistakes.

"President Trump wants Congress to send him a bill that will reward his friends and sponsors in this industry. Democrats are demanding stricter restrictions on the issuance and promotion of cryptocurrencies by federal officials while they are in office. Quite rightly. Trump's crypto deals are baffling," the WSJ article states.

Whitt stated that this article should not be paid attention to, because "The Wall Street Journal, echoing the talking points of Wall Street banks, does not deserve special attention."

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QWho has the Presidential Council on Digital Assets in the US accused of stalling the CLARITY Act?

ADemocrats.

QWhat is the main argument of Democrats for delaying the vote on the CLARITY Act according to the article?

ADemocrats argue there are unresolved issues, particularly regarding stablecoin yields potentially drawing customers away from traditional banks and exempting decentralized projects from anti-money laundering (AML) and user verification requirements.

QWhat personal financial interest of President Donald Trump related to cryptocurrency is mentioned in the article?

AThe article states that President Donald Trump's total income from crypto projects amounted to approximately $1.4 billion in 2025.

QWhat characterization did The Wall Street Journal use for the CLARITY Act in its article?

AThe Wall Street Journal characterized the CLARITY Act as a bill with many "delayed-action mines."

QHow did Patrick Whitt, the executive director of the Presidential Council on Digital Assets, dismiss The Wall Street Journal's critical article on the CLARITY Act?

APatrick Whitt stated that The Wall Street Journal, which repeats the talking points of Wall Street banks, does not deserve special attention.

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