Patrick Witt

Patrick Witt defended President Donald Trump’s role in digital asset policy after the Digital Asset Market Clarity Act failed to advance in the U.S. Senate. The White House crypto adviser argued that Democrats turned ethics concerns into a political weapon while banking interests pressed lawmakers over stablecoin competition.

White House and Treasury officials are signaling that the Digital Asset Market Clarity Act may not be the near-term driver of U.S. crypto policy. With Congress facing a lame duck session after the elections, regulatory agencies are now carrying much of the industry’s rulemaking momentum.

Senate Democrats delivered a counterproposal to Republicans on major crypto market structure legislation as lawmakers moved toward a critical procedural vote. The dispute centers on ethics language, state enforcement authority, stablecoin provisions and the scope of federal oversight.

The Digital Asset Market Clarity Act is facing a deepening Senate fight over ethics limits aimed at senior government officials and President Donald Trump’s crypto interests. Democrats say the proposed restrictions are too weak, while the White House and Republican supporters argue the concessions are historic and should clear the way for passage.

Senate leadership signaled that the Digital Asset Market Clarity Act is unlikely to clear its key pre recess window, weakening the odds of passage in 2026. White House crypto adviser Patrick Witt pushed back, saying the first week of August may still offer room for Senate action.

Polymarket traders lifted the implied odds that the Clarity Act becomes law this year to about 43%, up from 32% on Friday. The move followed unconfirmed reports that President Trump accepted an ethics provision, while Democrats have not yet seen bill text and no text has been publicly released.

Senate negotiations over the Digital Asset Market Clarity Act are increasingly focused on whether senior U.S. officials and their families should face strict limits on crypto ownership, sponsorship and disclosures. Democrats say the bill cannot advance without ethics safeguards, while Republican supporters are pushing to keep the long-awaited market structure effort moving toward a vote.

Patrick Witt, former college football player and Harvard Law grad, steps up as President Trump’s top crypto adviser. Discover his background, role, and crypto policy priorities.