Key takeaways
- David Sacks, as the White House’s AI and crypto czar, was spotted leaving Senator Tim Scott’s office, where a dozen senators had gathered to discuss the CLARITY Act, a crypto market structure bill.
- Markup of the bill is expected to take place later this month.
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David Sacks may have met with lawmakers on Tuesday to discuss crypto market structure legislation, the CLARITY Act.
The White House’s AI and crypto czar was seen leaving Sen. Tim Scott’s office, where a group of senators had gathered this morning to discuss the bill’s next steps, as Punchbowl News’ Brendan Pedersen reports.
Sacks said the United States is close to passing legislation for Bitcoin and other crypto assets with a markup planned for the bill in January. This was supported by discussions with Senate Banking Committee Chairman Tim Scott and Senate Agriculture Committee Chairman John Boozman.
Legislation to clarify regulations in the crypto sector could be delayed for several years, according to TD Cowen. The cabinet said the CLARITY Act may not be passed until 2027, with implementation closer to 2029.
The delay is largely political, with Democrats reluctant to advance the bill before the 2026 election, due to concerns about Trump’s involvement in crypto-related projects.
