Witt argued the bill is not a regulatory giveaway and said critics are effectively favoring a less regulated crypto market.
Patrick Witt defended the CLARITY Act as a measure that would impose added burdens and responsibilities on crypto companies, rejecting the view that it would hand the industry easier treatment. He said the legislation is "not a giveaway" to crypto and argued that opposition to the bill amounts to a case for keeping digital-asset markets less regulated. The remarks frame the debate around whether the proposal would tighten oversight of the sector rather than relax it.