White House Crypto Adviser Skeptical on Clarity Act Progress by Year-End

The admission that near-term momentum has shifted from Congress to the financial regulators is the substantive signal here, not the stalled bill itself. It implies the regulatory agencies, not legislators, will shape the operative rules for crypto and RWA market structure in the interim — a slower, less predictable path than statutory clarity. The explicit linkage to election outcomes makes the lame-duck session the next real checkpoint. Whether the agencies use that window to set durable precedents, or simply hold the line until the political picture clears, is the open question.