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Crypto

White House crypto adviser to take months-long leave for military training, new variable for CLARITY Act

Patrick Witt, who has handled White House digital asset policy work, will be away for several months from late July for military training. He is expected to wrap up work on July 24 and attend legal officer training with the Georgia Army National Guard, which would qualify him to serve as a legal officer. His absence overlaps with late-stage Senate talks on the CLARITY Act, a comprehensive digital asset market framework, and could affect coordination.

Crypto

U.S. Senate cools to crypto pitch on cost of living relief

At a U.S. Senate hearing, the digital asset industry presented cryptocurrencies as a way to ease Americans’ cost-of-living pressures, but lawmakers were largely cool. Senator John Kennedy said testimony from Digital Chamber CEO Cody Carbon sounded closer to promoting crypto. Few senators asked questions about digital assets. The industry also urged Senate action on the market-structure CLARITY Act, though added ethics provisions and regulatory jurisdiction disputes could complicate passage.

Crypto

U.S. crypto industry seeks tax exemption for mining, staking rewards; passage unclear this year

The U.S. cryptocurrency industry is urging Congress to swiftly pass a tax bill that would exclude mining and staking rewards from taxable income. Three industry groups pressed House leaders to keep the current compromise text, warning that revisions could weaken momentum. Democrats have raised concerns the measure could favor crypto over traditional assets and affect capital allocation. With election timing and uncertain bipartisan support, prospects for passage remain unclear.