Patrick Witt: 'Davos a turning point for the institutionalization of digital assets'…highlights the role of stablecoins

An assessment has emerged that the Trump administration has made clear on the international stage its determination to incorporate digital assets as a permanent feature of the global financial system. Analysts say the recent Davos Forum served as the catalyst that formalized that signal.

According to CoinDesk, a media outlet specializing in digital assets (cryptocurrencies), Patrick Witt, executive director of the White House Digital Asset Advisory Council secretariat, said in an interview on the 27th, “The 2026 Davos Forum was a turning point that signaled the normalization of digital assets at a global level.” He assessed that the Davos stage became a venue for clearly conveying the Trump administration’s policy direction.

On stablecoins, Witt said they “serve as a gateway into global finance,” explaining that “a pattern repeats in which figures in traditional finance, at a stage where they do not understand the technology, move through fear and ultimately integrate it into their own products.” He added that this process will shape a framework of coexistence between digital assets and traditional finance.

Regarding the legislative situation in the United States, he said regulatory discussions are gaining momentum. He explained that while the Senate Agriculture Committee is set to review a market-structure bill, the Banking Committee needs additional coordination over stablecoin compensation structures and ethical issues. Still, he projected that “even if it takes time, the bills will ultimately be reconciled and brought to the Senate floor.”

Responding to concerns raised by some Republican lawmakers that stablecoins could trigger deposit outflows from regional banks, he said, “The more choices there are, the more consumers benefit,” adding that “a gradual transition path is possible, not an abrupt shift.”

On the timeline ahead, Witt said that once the market-structure bill is finalized, the center of gravity will shift to discussions of a digital-asset tax package. He noted, “There is still time to pursue additional legislation before the midterm election cycle begins.”