The White House is gearing up to establish a legal framework for the cryptocurrency market in the United States by the end of the year. Patrick Witt, Executive Director of the White House Digital Assets Advisory Council, revealed during the Korea Blockchain Week 2025’s Impact conference that efforts are underway to bring the draft legislation to President Donald Trump’s desk by the year-end. Witt emphasized the collaboration with the Senate and the House of Representatives, noting that they have resolved several bottlenecks and acted as mediators among regulatory bodies.
Details of the U.S. Cryptocurrency Legislation
The proposed regulatory framework for the cryptocurrency market in the U.S. will incorporate multiple legislative proposals. The CLARITY Act, which passed the House of Representatives with bipartisan support in July under Republican leadership, stands out as a crucial component. Additionally, the Responsible Financial Innovation Act of 2025, announced by Republican senators earlier this month, broadens the scope of these efforts. This legislation aims to clarify the jurisdictional boundaries between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), thereby establishing a comprehensive framework for the cryptocurrency market.
These legislative initiatives build upon the regulatory process initiated by the Genius Act, passed in the first half of the year, which set fundamental rules for stablecoins, marking the first substantial step in the cryptocurrency market. The new bill aims to achieve legal clarity through a more extensive framework.
Witt: Supporting Cryptocurrency Companies
Witt highlighted that the White House is not just focused on legislative preparations but also aims to make the U.S. an attractive hub for cryptocurrency companies again. Witt stated, “The U.S. is open for business. We are moving full steam ahead in the cryptocurrency sector. We are working to entice companies that had moved overseas due to previous administrations back to the country.”
The White House Crypto Council actively communicates with industry representatives, facilitating more accessible avenues for companies to engage with the administration. Council Vice President Harry Jung mentioned that these interactions contribute to the decision-making processes, playing a significant role in shaping regulations. Through this strategy, the U.S. administration aims to establish legal clarity and foster a conducive environment for cryptocurrency companies to thrive domestically.
The efforts by the White House mark a pivotal move toward establishing a structured and reliable regulatory environment for digital assets. By creating clear and defined rules, the U.S. seeks to attract, stabilize, and grow its influence in the global cryptocurrency industry.
