Trump’s crypto advisor Patrick Witt is adamant that passing the Market Structure Bill is essential for the future of crypto, even if it means certain compromises. He believes the U.S must not let perfection kill progress on crypto regulation.
He urges that with a pro-crypto White House in full swing, this is the moment to strike a deal and get real rules in place for the industry.
Trump’s crypto advisor, who also currently serves as Executive Director of the President’s Council of Advisors for Digital Assets, made it crystal clear that a crypto market structure bill will happen; with the only real question being timing.
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“Assuming a multi-trillion-dollar industry can keep humming along forever with zero clear regulatory guardrails? That’s straight-up fantasy,” he said.
Right now, the Senate is working on legislation that spells out exactly how the SEC and CFTC will oversee crypto.
Some in the industry, who are worried about tough rules on stablecoins and decentralized setups, are pushing back hard, calling certain parts of the act “too restrictive.” The Banking and Agriculture Committees just pushed back their planned markups from Thursday.
Trump’s crypto advisor didn’t hold back on X
Patrick Witt didn’t hold back when he took aim at Coinbase CEO Brian Armstrong’s pulling back his support for the bill. Armstrong basically said the exchange would rather walk away from the whole thing than back a flawed bill.
Trump’s crypto advisor fired back, saying, “What a privilege it is to even say those words, thanks entirely to President Trump’s win and the seriously pro-crypto team he put together.”
He kept the pressure on, saying unless the industry works with this now, a future one by the Democratic Party would be far more restrictive and chaotic. Because everyone knows Democrats are inherently against crypto.
“You might not love every part of the CLARITY Act, but I can guarantee you’ll hate a future Dem version even more,” he said.
Right now, the GOP holds majorities in both chambers, but polls show Democrats with a slight edge and a real shot at flipping the House.
Betting markets like Polymarket give Democrats about 78% odds of taking the House back, though Republicans look solid to keep the Senate.
Even a Democrat-led House could throw major roadblocks in front of the Trump administration’s agenda for the rest of the term.
That’s exactly why Trump’s crypto advisor is pushing so hard to strike while the iron’s hot, make the necessary deals, and deliver meaningful clarity for crypto before the political winds shift.
Because the clock is ticking for the Clarity Act.
