The White House convened various law enforcement organizations for a meeting scheduled for this Monday, with the goal of resolving objections to the crypto market structure bill known as the Clarity Act.
According to sources familiar with the White House’ plan, the Trump administration seeks to defuse tensions surrounding Section 604 of the bill, linked to the Blockchain Regulatory Certainty Act, which protects software developers from being classified as “money transmitters” and allows them to continue building decentralized finance projects.
The National Sheriffs Association and other law enforcement groups had expressed their opposition in a May letter addressed to the Senate Banking Committee, arguing that the current language would grant an overly broad exemption to mixers, tumblers, and DeFi protocols. Patrick Witt, the White House’s top crypto adviser, has led efforts to keep the bill moving forward in the Senate, including rounds of negotiations with opponents from the financial and law enforcement sectors.
Senate Majority Leader John Thune reportedly indicated he could bring the Clarity Act to the floor within the coming weeks, even without Democratic support. Nevertheless, the legislation requires 60 votes to clear the approval threshold, with only four working weeks remaining before the summer recess.
Source: https://www.banking.senate.gov/imo/media/doc/ehf26374.pdf
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