Patrick Witt Advocates for Senate Crypto Bill and GENIUS Stablecoin Law

Patrick Witt, the newly appointed executive director of the President’s Council of Advisers on Digital Assets, is spearheading efforts to advance the Senate’s cryptocurrency market structure bill. His priorities include enacting the GENIUS stablecoin law and establishing a federal crypto reserve. Witt emphasized the need for bipartisan support, targeting at least 60 Senate votes to ensure the bill’s passage without diluting its effectiveness.

The draft legislation has undergone significant revisions, earning positive feedback from senators. Witt’s team is actively addressing concerns raised by Democratic lawmakers to refine the proposal. Simultaneously, his office is pressing the Senate Banking and Agriculture Committees to expedite the bill’s progression to the Senate floor.