Patrick Witt
189 posts
@patrickjwitt
Executive Director, President’s Council of Advisors for Digital Assets; Deputy Director, Dept. of War Office of Strategic Capital 🇺🇸
Today, Chairman @SenatorTimScott led Banking Committee Republicans and Democrats in a historic bipartisan markup to advance to Clarity Act, legislation that will establish clear rules of the road for digital assets.
The UK just signaled it wants regulatory alignment with the US on digital assets. This is a bigger deal than most people realize.
Families, small businesses, investors, and innovators deserve clear rules of the road for digital assets. The Senate’s version of the CLARITY Act delivers certainty, safeguards, and accountability, while protecting Main Street, strengthening national security, and keeping innovation in America.
Tomorrow’s markup of the Digital Asset Market Clarity Act is a monumental step in making the U.S. the Crypto Capital of the World and maintaining America’s leadership in innovation. I applaud Chairman @SenatorTimScott and the Senate Banking Committee for working so hard to craft the necessary compromises to advance this legislation. At a staff level, I also want to thank White House crypto director @patrickjwitt for helping us get to this point. Finally I want to thank the crypto industry for its efforts. There are roughly 50 million people in the U.S. who own or use crypto. This legislation will ensure that this ecosystem can innovate and flourish for years to come.
Families, small businesses, investors, and innovators deserve clear rules of the road for digital assets. The Senate’s version of the CLARITY Act delivers certainty, safeguards, and accountability, while protecting Main Street, strengthening national security, and keeping innovation in America.
The Senate Banking Committee released the latest draft of the CLARITY Act last night. The draft has significantly improved since January and reflects years of bipartisan negotiations. It’s time to get this passed. This bill safeguards consumers, includes important developer protections, and gives crypto entrepreneurs the regulatory clarity they need to build here in the U.S. We’re thankful for the hard work of the Senate Banking Committee and their staff. We urge Senators on both sides to move quickly to advance it out of Committee, to the Senate floor, and ultimately be signed into law by the President.
Chairman @SenatorTimScott, @SenLummis, and @SenThomTillis released market structure text ahead of this week’s markup. The Senate’s CLARITY Act delivers clear rules of the road, protects investors, combats illicit finance, and keeps innovation in America. banking.senate.gov/newsroom/major…
.@SenWarren, top Democrat on the Senate Banking Cmte, opposes the GOP crypto market structure bill released late last night
News in PBN texts: Judiciary Committee Chair Chuck Grassley and Sen. Cynthia Lummis have a deal to address law enforcement concerns in a landmark crypto bill, per two sources familiar. The deal allows prosecutors to bring AML charges against demonstrably culpable crypto actors
American Bankers Association CEO Rob Nichols sent the following letter on Sunday to every other bank CEO in the country, asking bankers for “immediate engagement” on stablecoin yield policy. Senate Banking Committee is slated to mark up landmark crypto bill Thursday
