White House Crypto Advisor: The cryptocurrency bill must not include provisions targeting the Trump family's digital asset business
Recently, White House digital asset advisor Patrick Witt expressed the U.S. government's core position on cryptocurrency market structure legislation.
He emphasized that any provisions directly targeting President Trump and his family's digital asset business would be considered an insurmountable red line.
Witt further pointed out that provisions added by Democratic lawmakers under the guise of "anti-corruption" and "ethical review" lack rationality and are completely unacceptable.
In his view, the original intention of the bill should be to establish a regulatory framework for the cryptocurrency market, rather than to be distorted into a political review tool targeting individuals.
To this end, he urged Democrats to return to a pragmatic negotiation track and propose more feasible revisions to jointly promote the enactment of the legislation.
When discussing the legislative advancement strategy, Witt stated that the White House's current top priority is to promote the issuance of a final bill that can be submitted for the President's signature.
Around this goal, the White House is trying to find a workable compromise on core differences such as stablecoin yields between traditional banking and the crypto industry.
However, he also admitted that the Democratic Party's insistence on restricting government officials and their families from participating in the crypto industry remains one of the main obstacles in the current legislative process.
Overall, the ultimate direction of the market structure bill ultimately depends on balancing the establishment of the regulatory framework and the disputes over political positions.
At the same time, given that the legislative window is gradually narrowing, the pressure to reach a consensus due to differing views continues to increase, making the subsequent legislative process full of uncertainty.
This contest, which combines regulatory attributes and political games, will ultimately determine the compliance path of the U.S. crypto industry and affect the emotions and expectations of the global crypto market.