Lack of ethics provision is one of the major points. Sen. Ruben Gallego (D-Ariz.), one of two Democrats who voted to advance the bill out of the Senate Banking Committee, has repeatedly said he would not support legislation on the Senate floor without a bipartisan ethics provision. Other Democrats have expressed similar concerns over the conflict of interest of public officials and digital assets.

As of Friday, there had been no public readout from Thursday’s White House meeting, and no bipartisan ethics language had emerged, leaving one of the bill’s biggest hurdles unresolved.

If passed, the Clarity Act would establish a federal framework for digital asset markets by drawing a clear line between assets overseen by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Supporters say the measure would replace years of regulation through enforcement with rules written by Congress.

Industry executives reiterated that message during a House hearing Friday, the one-year anniversary of the chamber’s passage of the legislation.

“The community has already done the hard work,” NovaLabs executive Sarah Eberg told lawmakers, arguing that regulatory uncertainty delayed investment in the helium wireless network after the SEC sued the company, which was later settled. “Clarification is not a call for deregulation; it’s a call for the right regulation from the right regulator.”