BlockBeats News, August 7th: Crypto journalist Eleanor Terrett reported that despite the White House starting talks on a counterproposal to the bipartisan ethics agreement put forward by Tillis and Gallego, key figures in crypto policy are currently in what an industry insider described as a "strange state of limbo."

Terrett referenced insiders who stated that some of the President's closest supporters have been working behind the scenes this week to try to facilitate an ethics deal. Meanwhile, negotiations on other outstanding issues are ongoing. The White House is leading efforts to advance discussions related to the BRCA (Blockchain Regulatory Certainty Act), attempting to persuade law enforcement agencies that still hold reservations to change their stance.