Patrick Witt Pushes Urgent Crypto Bill
Posted: Wed Jan 21, 2026 3:37 am
Patrick Witt, the White House Executive Director of the Presidential Advisory Committee on Digital Assets, has once again pushed for urgent passage of a U.S. crypto market structure bill, stressing that the current political window is too valuable to waste. Witt’s remarks come amid growing legislative delays and industry disagreements over key provisions of the proposed bill.
In a post on X (formerly Twitter), Witt argued that while many in the industry prefer “no bill” to “a bad bill,” this stance is a luxury afforded by the current pro-crypto Trump administration. He warned that failing to pass a bill now could leave the door open for a future Democratic Congress to enact harsher, more punitive regulations following a financial crisis — akin to what happened with the Dodd-Frank Act after the 2008 crash.
Witt emphasized that a comprehensive regulatory framework is essential for a multi-trillion-dollar industry that cannot realistically operate without clear rules. He noted that compromise will be necessary to secure the 60 votes required in the Senate, urging stakeholders not to let perfection block progress.
The urgency comes as the Senate Agriculture Committee is scheduled to review the bill draft later this month, after significant pushback and Coinbase’s withdrawal of support over controversial language related to tokenized equities, DeFi privacy, and stablecoin yields.
Witt’s message signals a broader frustration within the administration and crypto advocacy circles: that while industry input is critical, delay could mean missing a rare chance to establish federal clarity before political winds shift.
Overall, this highlights the precarious balance between developing thoughtful regulation that promotes innovation and avoiding regulatory stagnation that could invite stricter oversight later.
In a post on X (formerly Twitter), Witt argued that while many in the industry prefer “no bill” to “a bad bill,” this stance is a luxury afforded by the current pro-crypto Trump administration. He warned that failing to pass a bill now could leave the door open for a future Democratic Congress to enact harsher, more punitive regulations following a financial crisis — akin to what happened with the Dodd-Frank Act after the 2008 crash.
Witt emphasized that a comprehensive regulatory framework is essential for a multi-trillion-dollar industry that cannot realistically operate without clear rules. He noted that compromise will be necessary to secure the 60 votes required in the Senate, urging stakeholders not to let perfection block progress.
The urgency comes as the Senate Agriculture Committee is scheduled to review the bill draft later this month, after significant pushback and Coinbase’s withdrawal of support over controversial language related to tokenized equities, DeFi privacy, and stablecoin yields.
Witt’s message signals a broader frustration within the administration and crypto advocacy circles: that while industry input is critical, delay could mean missing a rare chance to establish federal clarity before political winds shift.
Overall, this highlights the precarious balance between developing thoughtful regulation that promotes innovation and avoiding regulatory stagnation that could invite stricter oversight later.