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      White House Advisor Addresses Trump's Crypto Interests Amid Clarity Act Setbacks

      Patrick Witt, the Executive Director of the White House Digital Asset Advisory Committee, defended former President Donald Trump's connections to cryptocurrency during the Financial Markets Quality conference at Georgetown University. He rejected claims that Trump's personal interests in crypto were responsible for the recent failure of the Clarity Act in the Senate, attributing the issue's politicization to Democratic lawmakers.

      Witt highlighted that the negotiations surrounding the Clarity Act have been hindered by ethical controversies, particularly regarding conflicts of interest involving senior government officials, with Trump being a focal point. He noted that Trump has agreed to unprecedented ethical provisions, including the potential divestment of crypto assets or placing them in a blind trust. Additionally, the White House is prepared to allow state attorneys general to sue Trump if the federal government does not address ethical violations.

      Witt emphasized the irony of accusations against Trump, stating that several senators involved in the discussions hold and trade stocks of financial services companies they regulate. He also pointed out that the focus is shifting towards federal regulatory agencies, such as the Securities and Exchange Commission, rather than the year-end legislative session. Furthermore, he accused banking lobbyists of attempting to delay the Clarity Act due to fears that stablecoin rewards could compete with traditional bank deposits.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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