White House Crypto Chief Positive on Senate Procedural Vote for CLARITY Act
Summary
- Witt said he is positive about the CLARITY Act’s prospects ahead of an initial procedural vote to bring the bill to the Senate floor.
- Witt said Republicans had accepted 95% of the Democratic negotiating team’s demands, and that President Donald Trump had also shown a willingness to compromise further on government ethics provisions.
- Witt said the CLARITY Act is worthy of bipartisan support and that banking-sector concerns over deposit outflows tied to stablecoin rewards are entirely hypothetical and speculative.
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Patrick Witt, executive director of the White House’s digital assets council, expressed optimism about the CLARITY Act ahead of an initial procedural vote to bring the bill to the Senate floor.
CoinDesk reported on September 14 that Witt said Republicans had accepted 95% of the Democratic negotiating team’s demands on the CLARITY Act. He added that President Donald Trump had also shown a willingness to make further compromises on government ethics provisions. Whether the bill secures enough votes now depends more on politics than policy.
Witt said the CLARITY Act deserves bipartisan support. “We are trying to correct the mistakes of the past, when people tried to wipe out this industry,” he said. He dismissed banking-sector concerns that stablecoin rewards could trigger deposit outflows, calling those fears entirely hypothetical and speculative.
Witt also pointed to the lengthy bipartisan negotiations behind the bill. “What more do they want?” he said. “If they oppose the CLARITY Act because they dislike digital assets, they can just say that.”
JH Kim
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