Chairman of the Presidential Digital Assets Committee: Seize the Opportunity of a Pro-Crypto Government to Pass Market Structure Legislation

Odaily News: Patrick Witt, Executive Director of the U.S. Presidential Advisory Committee on Digital Assets, posted on the X platform stating that a cryptocurrency market structure bill is inevitable. It is unrealistic to expect a multi-trillion dollar industry to operate without a comprehensive regulatory framework. Patrick Witt pointed out that with a crypto-supportive President, control of Congress, and the current regulatory environment of the SEC and CFTC, the industry should seize the opportunity to pass the bill, rather than allowing Democrats to enact punitive legislation after a future financial crisis. Patrick Witt emphasized that while the CLARITY Act may not be perfect, compromises are necessary to secure 60 votes in the Senate, and one should not let the pursuit of perfection become an obstacle to achieving excellence.