White House targets July 4 deadline for Clarity Act passage, with Senate markup set for this month!

Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, told the Consensus Miami conference Wednesday that the White House is targeting July 4 for House passage of the Digital Asset Market Clarity Act — framing it as "a tremendous birthday present for America, celebrating our 250th." The mechanics: Senate Banking Committee markup this month, four working Senate weeks in June for floor passage, then a House vote before Independence Day.

The stablecoin-yield compromise brokered between Sens. Thom Tillis and Angela Alsobrooks — banning bank-deposit-equivalent yield on stablecoins while leaving room for spending-tied rewards — is now "closed," Witt said, noting that both crypto firms and banks are equally dissatisfied, which he took as confirmation the language landed in the right place.

On the conflict-of-interest provision that has divided Democrats…