Editor's PiCK
Trump crypto adviser urges passage of the Clarity Act, says "compromise inevitable"
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Summary
- A crypto policy adviser to U.S. President Trump said the cryptocurrency market structure bill (the Clarity Act) will definitely be introduced.
- Witt said a multi-trillion-dollar industry cannot operate without a comprehensive regulatory framework, and that it is better to use the current moment—under a pro-crypto president and with regulators in place—to pass the bill.
- Despite debate over some provisions of the Clarity Act, Witt said compromise is inevitable to secure 60 votes in the Senate, and that 'perfect' should not stand in the way of 'good enough.'
A crypto policy adviser to U.S. President Donald Trump has urged the passage of the cryptocurrency market structure bill, known as the Clarity Act.
Patrick Witt, executive director of the White House Digital Assets Advisory Council, said on X on the 20th (local time) that "the Clarity Act will definitely be introduced," adding that "the question is not whether it will be introduced, but when."
Witt stressed the need for the Clarity Act to pass. "It is pure fantasy to assume that a multi-trillion-dollar industry can operate indefinitely without a comprehensive regulatory framework," he said, adding, "In that case, it is better to take advantage of the current opportunity—having a pro-crypto president and strong regulators positioned at the Securities and Exchange Commission (SEC), among others—to pass the bill."
He also referenced the debate surrounding the Clarity Act. Witt said, "You may not like every provision of the Clarity Act," but added, "I can guarantee that the Democratic version of the bill that comes in the future will be far less to your liking than what we have now." He continued, "To secure 60 votes in the Senate, compromise is inevitable," adding, "But we cannot let 'perfect' stand in the way of 'good enough.'"
