Patrick Witt Drives Market Structure Bill as New White House Crypto Advisor
The Trump administration’s newly appointed senior cryptocurrency advisor, Patrick Witt, has outlined his primary legislative focus following his recent appointment. In his first interview in the new role, Witt said the top three priorities are the market structure bill in the Senate, the implementation of the new stablecoin law, and the U.S. bitcoin stockpile. This announcement signals continuity in the administration’s crypto policy direction.
President Donald Trump’s new crypto guy, Patrick Witt, is picking up the baton from his predecessor, Bo Hines, in goading lawmakers to finish sweeping U.S. digital asset regulations. His appointment comes at a crucial time when Congress has already demonstrated significant bipartisan support for cryptocurrency legislation.
Digital Asset Market Clarity Act Takes Center Stage in Senate Push
The centerpiece of Witt’s legislative agenda centers on advancing the Digital Asset Market Clarity Act through the Senate. On July 17, 2025, the House of Representatives passed the Digital Asset Market Clarity Act (CLARITY Act; R. 3633) by a vote of 294 to 134. The overwhelming House support provides momentum for Senate consideration.
The House also adopted the Digital Asset Market Clarity Act (“CLARITY Act”) by a 294-134 margin. The bill now moves to the Senate, where significant amendments are possible given the chamber’s deliberative process. This comprehensive legislation aims to establish clear regulatory frameworks for digital assets across multiple agencies.
The CLARITY Act addresses several critical areas, including custody standards for national banks and explicit pathways for traditional financial institutions to engage with digital assets. On July 17, the House passed the CLARITY Act by a vote of 294-134, with support from 78 Democrats. This bipartisan backing demonstrates growing political consensus around cryptocurrency regulation.
Market Structure Bill Faces Senate Banking Committee Review
Since the House passed the CLARITY Act on July 17, the U.S. Senate Banking Committee, which has oversight of the Securities and Exchange Commission (SEC), has been busy working on its own version of the U.S. crypto regulatory framework. The committee’s involvement suggests thorough consideration of regulatory implications.
Senate Banking Chairman Tim Scott and several Republican colleagues have released their discussion draft for digital asset market structure legislation. On July 22, Senate Banking Chairman Tim Scott (R-SC) and Senators Cynthia Lummis (R-WY), Bill Hagerty (R-TN), and Bernie Moreno (R-OH) released a discussion draft of digital asset market structure proposals that may influence final legislation.
The Senate’s approach demonstrates careful consideration of regulatory balance. Senate Democrats identified seven issues they want to see addressed in any market structure legislation, including addressing Donald Trump’s crypto ties. This suggests potential areas for negotiation and amendment during Senate consideration.
Patrick Witt Continues Predecessor’s Strategic Direction
When Congress returns from its summer break, Witt will have to get a handle on progress toward a Senate version of the House-passed Digital Asset Market Clarity Act. His background and approach suggest continuity with previous administration efforts while bringing fresh perspective to ongoing negotiations.
The new advisor inherits a robust legislative agenda that extends beyond market structure legislation. His priorities include implementing the recently passed stablecoin legislation and advancing the administration’s Bitcoin Strategic Reserve initiative. These interconnected policies form a comprehensive approach to digital asset integration within traditional financial systems.
Witt’s appointment signals the administration’s commitment to maintaining momentum on cryptocurrency policy development. His experience and strategic focus on Senate passage of market structure legislation positions the White House to capitalize on existing bipartisan Congressional support.
Conclusion
Patrick Witt’s leadership as White House crypto advisor brings focused attention to advancing the Digital Asset Market Clarity Act through the Senate. His clear prioritization of market structure legislation, stablecoin implementation, and Bitcoin reserve development demonstrates strategic continuity with previous administration efforts. The bipartisan House support for the CLARITY Act provides a strong foundation for Senate negotiations, positioning the administration to achieve significant regulatory clarity for the cryptocurrency industry.
