White House crypto advisor warns of closing legislative window for Clarity Act

White House Digital Asset Advisory Committee Executive Director Patrick Witt stated that the legislative window for the Clarity Act is narrowing, with a critical procedural vote scheduled for September 15. Treasury Secretary Scott Bessent urged lawmakers to advance the bill, warning that failure would signal a decline in U.S. leadership in the crypto industry. Although the revised bill incorporates 114 amendments requested by Democrats, it currently lacks the necessary bipartisan support. Market analysts suggest that the bill's passage could encourage large institutions to enter the crypto market, while Coinbase CEO Brian Armstrong has projected that Bitcoin could reach a market capitalization of $8 trillion by 2030.