Patrick Witt denies Trump crypto interests caused Clarity Act Senate failure

  • Patrick Witt denied claims Trump’s crypto interests caused the Clarity Act’s Senate failure.
  • Witt said Trump agreed to unprecedented ethics provisions during the debate.
  • Witt said Democrats politicized the issue at a Georgetown University conference.

Patrick Witt, executive director of the White House crypto council, rejected claims that President Donald Trump’s personal crypto interests caused the Clarity Act to fail in the Senate last week. Speaking at a conference at Georgetown University, Witt said Democrats had politicized the issue. He contrasted the recently passed House bill, which he said lacked strict government ethics review provisions, with the Senate debate, which centered primarily on Trump. Witt said Trump agreed to what he called unprecedented ethics provisions. He also questioned Democrats’ concerns about potential conflicts of interest, arguing that they objected to Trump shaping crypto policy while operating crypto businesses even as many senators on the Banking Committee hold and trade shares in financial services companies they regulate, according to CoinDesk.

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