Witt Leaves White House As Crypto Bill Stalls

Patrick Witt, the White House Crypto Council’s executive director, has left the administration as the CLARITY Act remains stalled in the Senate. He had served as an intermediary among lawmakers, regulators and cryptocurrency companies.

Witt confirmed his departure Oct. 15 after nearly two years in government. He is joining the private sector in an undisclosed role. In a farewell statement, Witt described his government service as “the privilege of a lifetime” and thanked President Donald Trump and former White House technology adviser David Sacks.

Witt highlighted the administration’s work on digital-asset policy, including the GENIUS Act, which established federal rules for payment stablecoins. He also cited efforts to advance the CLARITY Act, which would establish rules for digital assets and clarify the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The House passed its version of the bill in 2025. Senate negotiations have faced opposition over rewards paid on stablecoin holdings, competition with banks and possible conflicts involving Trump’s cryptocurrency businesses. An initial Senate procedural vote failed in September, leaving the bill’s future uncertain before the November midterm elections.

Banks have sought limits on rewards linked to stablecoin balances, arguing that those payments could draw deposits away from traditional financial institutions. Cryptocurrency companies have opposed the restrictions, saying they could reduce competition.

Senate Democrats have called for stronger safeguards involving Trump’s financial interests in crypto ventures. They have also questioned how those safeguards could be enforced if the Justice Department, rather than state authorities, were responsible for taking action against the president.

Before the failed vote, Witt warned that missing the opportunity to pass the legislation could delay nationwide digital-asset rules for years. Coinbase CEO Brian Armstrong praised Witt’s persistence, problem-solving and ability to work with people who held opposing views. Alexander Grieve, a government affairs executive at crypto investment firm Paradigm, described Witt’s work as a combination of legislative expertise, negotiation and political strategy.

No replacement was named in Witt’s departure statement. His exit follows the departures of former Crypto Council director Bo Hines in August 2025, Sacks in March and deputy director Harry Jung in July.

The SEC and CFTC have continued work on parts of Trump’s crypto agenda using their existing legal authority. Under Chairman Paul Atkins, the SEC has pursued policies involving crypto issuance, custody and tokenized securities. The agency proposed rules Oct. 1 for cryptocurrency custody by investment advisers and regulated funds, following an August proposal on exemptions for some crypto fundraising activities.

The CFTC, led by Chairman Michael Selig, opened a consultation Oct. 5 on certain leveraged retail cryptocurrency commodity transactions. The agency is also considering a registration system for crypto trading markets. Selig has described plans to advance rules under the agency’s current authority without waiting for Congress.

Witt thanked Atkins and Selig for their cooperation in his farewell statement.