White House Crypto Adviser Patrick Witt Departs as Clarity Act Stalls

WHY IT MATTERS

When governments create rules for crypto, it affects how companies and individuals can use digital assets. Think of the Clarity Act like a proposed rulebook that would tell crypto companies which government agency oversees them — similar to how restaurants know they must follow health department rules. Without clear rules, crypto companies often face uncertainty about what is legal and what is not. The departure of a key adviser and the stalling of this legislation mean that the question of how crypto is regulated in the U.S. remains unresolved, which can affect everyone from large companies building crypto products to everyday people using digital currencies.