White House advisor David Sacks has announced major progress in advancing a bipartisan cryptocurrency regulation bill in the U.S. Senate. According to Sacks, a preliminary draft of the long-awaited legislation could be released soon following constructive talks with lawmakers.
Sacks met with Senators John Boozman (R–Arkansas) and Cory Booker (D–New Jersey) earlier this week to discuss the framework for regulating the digital asset market. He described the discussions as productive and emphasized that both parties share a goal of establishing clear, innovation-friendly rules for the crypto industry.
“Grateful to Senators Boozman and Booker for their constructive discussion before the Agriculture Committee,” Sacks stated. “We’ve made substantial progress, and I look forward to seeing the bipartisan draft in the near future.”
The upcoming proposal is expected to address the long-standing jurisdictional disputes between the SEC and CFTC, clarify the status of DeFi protocols, and create a unified structure for crypto oversight.
In late October, Senator Boozman confirmed that despite the government shutdown, Senate negotiations on the bill had continued, with the target of passing comprehensive legislation by 2026. Meanwhile, Democratic lawmakers met with representatives from leading crypto firms on October 22 to discuss amendments related to the CLARITY Act, focusing on enhanced DeFi regulation.
Observers note that the White House’s engagement signals a growing push toward regulatory certainty for the U.S. crypto industry — a move many believe is critical for maintaining global competitiveness.
