BREAKING: Trump Administration Makes a Statement on Regulation That Will Change the Cryptocurrency World

The US is close to a significant milestone in implementing comprehensive regulation of the cryptocurrency market.

David Sacks, dubbed the White House’s “crypto chief,” has indicated that the country is “closer than ever” to the passage of legislation aimed at regulating Bitcoin and the cryptocurrency market.

Following a meeting with Senate Banking Committee Chairman Senator Tim Scott and Agriculture Committee Chairman John Boozman, David Sacks announced that a formal committee review of the bill known as “Clarity” is scheduled for January. Sacks pointed to the support of Senate leadership, as well as House Representatives French Hill and Glenn Thompson, arguing that the passage of this “historic” cryptocurrency market structure legislation, called for by President Donald Trump, is closer than ever. He stated that the goal is to complete the process in January.

These statements come after a meeting on Wednesday where leading figures from the crypto sector met with key members of Congress. As the US Senate prepares to take a short break from deliberations on the bill, industry representatives view this regulation as a top policy objective for the crypto industry.

Coinbase’s vice president of US public policy, Kara Calvert, who attended the meeting, stated after the discussions, “There was a picture of bipartisan interest and momentum moving forward.” Calvert summarized the general atmosphere in the room by saying, “We’re going to move into an assessment phase, and for that, we need to find areas of compromise.”