White House Adviser Patrick Witt Seeks Ethics Deal for $2 Trillion Crypto Bill
Updated
Updated · POLITICO · Jun 23
White House Adviser Patrick Witt Seeks Ethics Deal for $2 Trillion Crypto Bill
3 articles · Updated · POLITICO · Jun 23
Summary
Patrick Witt, 37, is racing to lock down an ethics agreement that Democrats say must come before they back the Clarity Act, a landmark digital-assets bill pending in the Senate.
Democrats want the measure to bar President Donald Trump from backing or issuing crypto tokens, while Republicans need Democratic votes to reach the 60-vote threshold for passage.
The bill would set new guardrails for the more than $2 trillion crypto market and could extend legitimacy across a sector increasingly intertwined with Wall Street.
Witt has support from allies including Sen. Cynthia Lummis and former White House crypto czar David Sacks, but skeptics such as Sen. John Kennedy question whether anyone short of Trump can actually seal the deal.
How will the new U.S. crypto rules reshape the $2 trillion digital asset market?
What precedent does a crypto ethics law for a head of state set for global leaders?
With new regulations coming, can crypto's core principle of decentralization survive government oversight?
200+ Crypto Companies Urge Senate as CLARITY Act Faces Stalemate Before 2026 Midterms
Overview
As of late June 2026, the CLARITY Act—seen as a landmark crypto bill—faces a critical deadlock in Congress, with its July 4 deadline for passage now unlikely. Ongoing regulatory ambiguity in the crypto sector continues to hinder innovation and enables illicit activities, fueling calls for action from over 200 industry leaders. Despite strong advocacy and industry pressure, legislative inertia persists, shifting focus to a possible later passage. This prolonged process highlights the challenges of achieving comprehensive crypto regulation in the U.S., as lawmakers struggle to resolve deep disagreements and secure the necessary support for the Act.