Departing White House Digital Assets Adviser Patrick Witt Says US Digital-Asset Future Is Bright
Summary
- Former Executive Director Patrick Witt said the future of US digital-asset innovation is bright and that the country is moving into a new golden age of development.
- He said that during his tenure, he worked on the crypto market-structure bill (the CLARITY Act) and helped coordinate between banks and the crypto industry to resolve disputes over stablecoin rewards payments.
- With his successor still unclear, there are concerns that changes among key White House crypto policy officials could weaken legislative momentum for the CLARITY Act.
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Patrick Witt, former executive director of the White House Digital Assets Advisory Council, has formally confirmed his departure.
In a post on X on Oct. 15, Witt called serving in the administration "the greatest honor" of his life. He said he had been "the luckiest person in the world" over the past two years, including while advancing President Donald Trump's vision of making the US the "crypto capital of the world" as executive director of the White House Digital Assets Advisory Council.
Witt said he could step down confident that the future of digital-asset innovation in the US is bright. He added that he would share more about his next steps soon and that he is highly optimistic the US is entering a new golden age of development across multiple technologies.
Witt is a Defense Department official who had been temporarily seconded to the White House Digital Assets Advisory Council. During his tenure, one of his key assignments was work on crypto market-structure legislation known as the CLARITY Act. He also acted as a liaison between banks and the crypto industry to help resolve disputes over stablecoin rewards payments.
It remains unclear who will succeed him. Some have raised concerns that turnover among key White House crypto policy officials could weaken momentum behind the CLARITY Act.
