White House Crypto Advisor Patrick Witt Opposes Efforts To Derail CLARITY Act Stablecoin Provisions

White House Crypto Advisor Patrick Witt has renewed his push for the stalled CLARITY Act, a crypto market structure bill that has seen no recent progress amid banking sector resistance to stablecoin rewards. In social media remarks this week, Witt criticized banks for warning about potential deposit flight, arguing that crypto platforms have offered stablecoin yields for years without such outcomes. He also highlighted ongoing disputes in the Senate over anti-money laundering rules, DeFi risks, and crypto holdings by senior officials, which continue to cloud the bill’s future.