White House says crypto focus should shift beyond a Clarity Act revival

White House crypto adviser Patrick Witt and Treasury assistant secretary for financial institutions Luke Pettit said crypto policy should focus on U.S. market regulators. They said a possible revival of the Digital Asset Market Clarity Act during Congress's lame-duck session will depend on the November midterm election. The officials spoke at a policy and regulation event in Washington on Tuesday. The Senate failed to advance the Clarity Act one week earlier. Pettit said the bill was not dead. Pettit said the focus had shifted to the administration. He also said congressional support for the legislation was very weak.