White House crypto advisor Patrick Witt and Treasury official Luke Pettit stated that the Clarity Act has little chance of passing Congress this year, noting that the legislative atmosphere has cooled considerably. With comprehensive legislation stalled, the administration is shifting focus toward regulatory agencies to advance crypto policy under existing authority. The SEC and CFTC are expected to continue making progress using their current mandates, with officials emphasizing there is no time to waste on the regulatory front. Concurrently, the Treasury Department is drafting implementation rules for the stablecoin provisions outlined in the GENIUS Act to ensure continued policy development despite the legislative delay.