According to CoinMeta, White House crypto advisor Patrick Whittemore ( Patrick Witt ) stated that the CLARITY bill has entered a "binary phase." After lengthy negotiations, legislators have narrowed down the scope of discussion to a few final issues. President Trump has exerted new pressure on Congress to complete the digital asset market structure bill, and a White House meeting also indicated that if legislators fail to reach an agreement, regulatory agencies may act independently. Cody Caborn ( Cody Carbone ), CEO of the Digital Commerce Association, said that Trump hopes to sign the bill in September, and the Senate is expected to begin procedural deliberations on the bill in mid-September. Caborn pointed out that the September timeframe is important because legislation becomes more difficult during recesses and election periods. The meeting also discussed what actions the government would take if the CLARITY bill fails to progress; the SEC and CFTC bills have received White House support and can be acted upon swiftly. The CLARITY bill will create legal definitions for digital assets, network tokens, and digital commodities, and will assign responsibilities to SEC and CFTC, with the aim of preventing overlapping or contradictory rules.