White House Adviser Urges Swift Passage of Crypto Market Bill Amid Regulatory Uncertainty
Patrick Witt, executive director of the President’s Council of Advisors on Digital Assets, has publicly advocated for accelerated congressional approval of the CLARITY Act. The bill seeks to establish clearer regulatory frameworks for cryptocurrencies, a market now valued in the trillions.
Witt warns that delay risks reactive legislation. 'If Congress doesn’t act now, a future crisis—a market shock or crypto collapse—could force punitive measures akin to Dodd-Frank in 2008,' he stated on X. The debate has shifted from whether regulation will happen to when.
The absence of federal oversight leaves the industry vulnerable as digital assets increasingly intersect with traditional finance. Witt’s push reflects growing urgency to preempt chaos rather than respond to it.
