White House crypto official warns SEC, CFTC will act if Clarity Act fails

Patrick Witt, secretary-general of the White House Crypto Council, warned the SEC and CFTC would press ahead with their own regulatory proposals if the Clarity Act is voted down, Crypto Briefing reported. The remarks came just after the Senate returned from its September recess and ahead of a cloture vote on Sept. 15 that is expected to be a turning point for the bill. The comments were seen as pressure from the administration to push congressional negotiations forward.