Director of the Presidential Digital Assets Committee: The Opportunity of a Pro-Crypto Government Should Be Seized to Pass the Market Structure Act
According to Odaily, Patrick Witt, Executive Director of the U.S. President’s Digital Asset Advisory Council, stated on the X platform that a cryptocurrency market structure bill is inevitable, as it is unrealistic to expect an industry worth trillions of dollars to operate without a comprehensive regulatory framework. Patrick Witt pointed out that, with a president who supports cryptocurrencies, control of Congress, and a regulatory environment involving both the SEC and CFTC, the industry should seize the opportunity to pass legislation, rather than wait for the Democratic Party to introduce punitive laws after a future financial crisis. Patrick Witt emphasized that while the CLARITY Act may not be perfect, compromises are necessary to secure 60 votes in the Senate, and perfection should not become the enemy of progress.
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