White House | Crypto

Witt’s departure comes during a critical moment for the CLARITY Act, with deputy director Harry Jung expected to assume his responsibilities. Patrick Witt, the White House’s pointman on the Digital Asset Market Clarity Act, is taking a leave of absence at the end of July for several months of military training, Crypto In America reported. Witt, who has served as the executive director of the President’s Council of Advisors for Digital Assets since August, is expected to wrap up his work on July 24 before reporting for Judge Advocate General (JAG) training with the Georgia Army National Guard. The training will qualify him to serve as a legal officer in the Guard, the report wrote. “Patrick has always been forthcoming and honest with every stakeholder that he was taking military leave later this month,” said Cody Carbone, CEO of Digital Chamber, on Tuesday.  Read more

Both US financial regulators are understaffed at the leadership level and lacking Democratic commissioners, with no announcement from President Donald Trump on filling the roles. White House officials claimed that they had “not received names” in response to requests to Senate Democrats for potential commissioners to two US financial regulatory agencies. In a Thursday letter to US Senate majority leader John Thune and minority leader Chuck Schumer, White House officials said that they had already solicited names from Senate Democrats for the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The leadership panels of both financial agencies are understaffed, with only Republican members nominated and confirmed by the Senate. The letter came in response to a June 10 request from 12 Senate Democrats over staffing concerns at US federal agencies, including the SEC and CFTC. Although US President Donald Trump has put forward some Democratic names for positions at agencies, in...

Officials from the White House are said to be sitting down with law enforcement representatives who have objected to illicit-finance portions of the bill.

The bill did not specifically bar members of the US Congress from using the platforms or making sports bets, but prohibited policy wagers. Wisconsin Representative Bryan Steil, who chairs the House subcommittee on digital assets, introduced a law to prevent certain public officials from “wagering on public policy issues and political outcomes,” notably without mentioning lawmakers in the White House. In a Thursday notice, Steil said he had introduced the Stop Lawmakers from Predicting Act, which could bar "members of Congress, their spouses, and dependent children” from using policy-aligned event contracts on prediction markets platforms like Kalshi and Polymarket. The bill proposed that elected officials in violation pay a $2,000 fee or 10% of the value of the prohibited bets on the platforms. Source: Committee on House Administration Read more

One of the developers behind the crypto-mixing protocol Samourai Wallet has publicly expressed hopes for a pardon, along with FTX founder Sam Bankman-Fried. US President Donald Trump is reportedly considering pardoning 250 people to commemorate the country's 250th birthday on July 4, according to The Wall Street Journal. An official announcement could come on June 14, Trump's birthday, or during the Independence Day event on July 4, the WSJ reported Thursday, citing people familiar with the matter. However, the pardons are still in the preliminary stages and have yet to be confirmed. More than 16,000 formal requests for presidential pardons were submitted last year.  Read more

A senior White House official has accused major banking trade leaders of refusing to join earlier talks on stablecoin rewards, escalating a dispute that has become one of the final pressure points ahead of the Senate Banking Committee taking up the CLARITY Act this week. In a May 11 post on the social media platform […] The post White House reveals US banks ‘refused’ to attend meetings to resolve stablecoin rewards issue in CLARITY Act appeared first on CryptoSlate.

White House digital-assets adviser Patrick Witt cited a recent exploit involving assets held by the U.S. Marshals as proof federal crypto holdings need safeguarding.

The CLARITY Act has stalled in Senate Banking deliberations, setting back an array of market rules that would solidify into law most of the pro-crypto stance that took hold in the President Donald Trump administration. Yet, Congress may have handed crypto markets an unexpected experiment. Galaxy Research puts the odds of enactment this year at […] The post CLARITY’s delay to test Wall Street’s $6.6 trillion stablecoin warning which is at odds with White House view appeared first on CryptoSlate.

Gunfire cut short the White House Correspondents’ Dinner on April 25, forcing the evacuation of President Donald Trump after a man armed with multiple weapons charged a security checkpoint at the high-profile gala. In a post on Truth Social, Trump revealed that US law enforcement agents subdued the suspect, who was later identified as Cole […] The post Official TRUMP token price in free fall amid White House shooting incident after memecoin gala appeared first on CryptoSlate.

US President Donald Trump will appear at an event for holders of the TRUMP memecoin after the White House previously said it wasn’t locked into his schedule. The White House has reportedly confirmed that US President Donald Trump will attend the exclusive event for top TRUMP memecoin holders at his Florida residence on Saturday, after questions were raised earlier this month over whether he would attend. Reuters reported on Friday that the White House confirmed Trump would deliver a keynote address at the gala luncheon organized by the company behind his Official Trump (TRUMP) memecoin. The gala is set to take place at Mar-a-Lago. It will be open to the top 297 holders of the TRUMP token, and the top 29 holders will also qualify for a private reception with the president. Read more

A White House digital assets official has slammed the traditional banking sector's continued opposition to the proposed stablecoin yield compromise in the CLARITY Act. On April 17, Patrick Witt, the executive director of the White House Presidential Advisory Committee on Digital Assets, accused the financial institutions of “greed or ignorance” due to their intensified lobbying […] The post White House tells “greedy” banks to “move on” from CLARITY Act stablecoin yield fight appeared first on CryptoSlate.

White House study sharpens CLARITY’s core fight as Senate execution remains the real test A recent White House economic study has changed the focus of Washington’s debate over the CLARITY Act. The report addresses the main issue slowing the bill in the Senate: whether limiting stablecoin yields actually protects the banking system. The study’s findings are […] The post White House exposes stablecoin yield ban wouldn’t help banks, raising the stakes for CLARITY in the Senate appeared first on CryptoSlate.

The American Bankers Association is concerned that stablecoin yields would lead to mass deposit outflows from smaller community banks. The American Bankers Association (ABA) has criticized a White House report that claimed banning stablecoin yields would only have a negligible impact on banks, arguing that the conclusion was reached by asking the “wrong question.” The White House’s Council of Economic Advisers claimed in a research paper on Wednesday, on the “Effects of Stablecoin Yield Prohibition on Bank Lending,” that under a baseline scenario, banning stablecoin yield may only increase bank lending by $2.1 billion, representing a marginal net increase of about 0.02%. ABA chief economist Sayee Srinivasan and vice president for banking and economic research Yikai Wang said in a statement on Monday that the “live policy concern” is not whether prohibiting yield on stablecoins would impact bank lending but whether allowing yield on stablecoins would encourage deposit outflows, particularly from community bank...

A new study from the American Bankers Association says the White House economists went after the wrong premise in their recent look at the issue.

Reuters reported that White House staff were warned against using confidential information after suspicious Iran-linked oil futures bets and fresh scrutiny of prediction markets. The White House warned staff against improperly using confidential information to place bets in futures markets after suspicious oil trades ahead of President Donald Trump’s March 23 Iran announcement drew scrutiny, according to Reuters. Reuters reported on Thursday that the White House sent the internal email on March 24, a day after Trump ordered a five-day delay in attacks on Iran’s energy infrastructure. The warning followed a roughly $500 million bet on Brent and West Texas Intermediate crude futures placed in a one-minute burst shortly before Trump’s March 23 announcement, according to Reuters calculations based on exchange data. Oil prices fell about 15% after the policy shift. Read more

The Trump administration and the broader crypto industry have initiated an unprecedented, multi-agency pressure campaign aimed at forcing the Senate to pass the Digital Asset Market Clarity Act, signaling a decisive final push to overhaul the regulatory framework of the $2.4 trillion cryptocurrency market before the 2026 midterm elections. In a highly synchronized effort this […] The post CLARITY Act faces White House blitz as Treasury and SEC flood Senate with coordinated pressure this week appeared first on CryptoSlate.

White House economists said banning rewards wouldn't significantly boost banks' financial health, amplifying the crypto industry view in the Clarity Act debate.

White House economists say banning stablecoin yield would add little to bank lending while imposing significant costs on users. A White House report found that banning yield on stablecoins would have a marginal impact on bank lending while creating clear economic downsides. According to the Council of Economic Advisers, a three-member agency within the Executive Office of the President tasked to offer the president economic advice, moving funds from stablecoins back into bank deposits would not translate into significant new lending. Under its baseline scenario, total bank lending would increase by about $2.1 billion, roughly 0.02% of the $12 trillion loan market. The report, published Wednesday, says that community banks would see even smaller gains. Lending at these institutions would increase by roughly $500 million, or about 0.026%. Read more

The proposal includes a startup exemption, a fundraising exemption and an investment contract safe harbor for issuers.  US Securities and Exchange Commission Chair Paul Atkins has revealed that a key crypto market safe harbor proposal has landed at the White House for review. Speaking at the Digital Assets and Emerging Technology Policy Summit on Monday, Atkins said the Regulation Crypto Assets proposal — outlined by the SEC in mid-March — has now been submitted to the Office of Information and Regulatory Affairs. "We will have reg crypto that we will be proposing here shortly. It's in fact at OIRA right now, which is the next step before being published," he said. Read more

David Sacks leaves office with wins for crypto infrastructure, while Bitcoin holders are still waiting David Sacks is out of the formal White House crypto czar role after exhausting the 130-day limit attached to his special government employee status. The change closes the clearest window for a scorecard. The record is substantial, yet it falls […] The post White House crypto czar leaves office after securing crypto wins for banks and institutions instead of Bitcoin appeared first on CryptoSlate.