White House crypto adviser says Trump gave up 'historic' ethics powers in compromise
A White House crypto adviser is urging support for the Clarity Act, a bipartisan bill currently facing a critical Senate vote. While the legislation includes compromises on government ethics and DeFi regulation, it faces resistance from Democrats and state attorneys general concerned about enforcement authority.
Why it matters
The Clarity Act represents a major legislative attempt to establish a regulatory framework for the cryptocurrency industry in the U.S., with significant implications for DeFi oversight.
In a Monday appearance in Washington, Witt said President Donald Trump deserved a "big thank you" for his new willingness to further compromise on a Clarity Act government ethics provisions.
"These are historic and unprecedented provisions," Witt said at a Solana Policy Institute summit . "I wouldn't want to be a Democrat that votes against these."
He said he feels "very good" about the coming Senate vote on what he said was the product of a massive, bipartisan effort, but he said that whether it gets enough yes votes could be "a political calculation and not a policy calculation."
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