White House adviser defends President Trump's crypto ties in wake of Clarity Act defeat
Summary
White House crypto adviser Patrick Witt said President Trump accepted unprecedented ethics concessions during negotiations over the stalled Digital Asset Market Clarity Act, including possible crypto divestment or a blind trust. The Senate failed to advance the bill last week after conflicts-of-interest concerns became a sticking point. Witt blamed Democrats for politicizing the debate and banking lobbyists for opposing provisions allowing stablecoin rewards, arguing banks exaggerated the competitive threat. He said near-term attention is shifting from Congress to federal regulators such as the SEC.
