As the U.S. Senate approaches its first procedural vote for the CLARITY Act's floor deliberation, Patrick Witt, Secretary-General of the White House Cryptocurrency Commission, expressed a very positive outlook on it. According to CoinDesk, he stated, "Republicans have accepted 95% of the Democratic negotiating team's demands regarding the CLARITY Act. President Donald Trump has shown a willingness to make further compromises on government ethics provisions, which is greatly appreciated. These are historical and unprecedented provisions." He emphasized, "Whether this bill will receive enough votes in the Senate is a political calculation, not a policy calculation. This bill deserves bipartisan support. We are working to correct past mistakes where we tried to eradicate this industry." He then dismissed concerns about potential deposit outflows due to stablecoin rewards from banks as "entirely hypothetical and speculative concerns." Referring to the long-standing bipartisan negotiations, Patrick Witt remarked, "What more do you want? If you oppose the CLARITY Act because you hate cryptocurrency, just say so."
