White House crypto advisor denies Trump's personal interests stalled Clarity Act

Patrick Witt, executive director of the White House Digital Assets Advisory Committee, denied that President Trump's personal crypto holdings caused the recent failure of the Clarity Act (US digital-asset market-structure bill) in the Senate. Witt stated that the administration had agreed to unprecedented ethics provisions, including potential divestment or blind trusts, and criticized the politicization of the issue. He also suggested that banking industry lobbyists, concerned about competition from stablecoins, were the primary drivers behind the bill's stall. Current efforts are shifting focus toward federal regulatory agencies like the SEC.