According to a ChainCatcher report citing The Block, Patrick Witt, the Executive Director of the U.S. President's Digital Asset Advisory Committee, stated that the market structure bill should be pushed through as soon as possible under the current Trump administration's crypto-friendly atmosphere. He noted that although the draft remains controversial, including restrictions on DeFi privacy, stablecoin yields, and tokenized securities, "compromises are necessary." Earlier, Coinbase withdrew its support for the bill's draft due to concerns over its wording. Witt emphasized that it is better to seize the current legislative opportunity rather than wait for a potentially stricter version from the Democrats in the future. The Senate Agriculture Committee will review the bill on January 27.
Trump's Digital Asset Advisor Urges Swift Passage of Crypto Market Structure Bill
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Summary
News from the U.S. digital asset sector shows Patrick Witt, head of the President's Digital Asset Advisory Committee, advocating for the quicker passage of the crypto market structure bill. Witt emphasized that compromise is necessary despite ongoing disagreements over issues such as DeFi privacy, stablecoin yields, and tokenized securities. Coinbase had previously withdrawn its support due to concerns over the bill's wording. Witt argued that passing the bill now is preferable to waiting for a potentially stricter version. The Senate Agriculture Committee is scheduled to review the bill on January 27. This crypto market update underscores the rapidly evolving regulatory landscape.
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