The White House on CLARITY's Collapse: 'A Failure of American Leadership'

Gabe Rosenberg, a partner at Davis Polk & Wardwell, sits down with Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets, at CoinDesk's Policy & Regulation conference. Witt breaks down the CLARITY Act’s cloture vote, calling it "a major disappointment" and "a failure of American leadership." Witt also dismantles the banks' stablecoin-rewards argument, makes the case for tokenizing real-world assets, and lays out what would make the U.S. the digital-asset capital by the end of the administration. - 00:00 Patrick Witt Joins CoinDesk Live at Policy & Regulation 00:30 'A Failure of American Leadership': The Cloture Vote 02:30 What Really Held Back the CLARITY Act 04:00 Is There Any Life Left in CLARITY? 06:00 Full Steam Ahead: What the SEC and CFTC Can Do 08:30 How Industry Can Help the Pivot to Rulemaking 10:00 Stablecoins, the GENIUS Act and Global Reciprocity 14:00 Taking Apart the Banks' Stablecoin-Rewards Argument 17:30 The Real Unlocks in Tokenizing Real-World Assets 19:30 Making the U.S. the Digital Asset Capital by 2028 - #digitalfinance #finance #bitcoin Subscribe to CoinDesk on YouTube: https://www.youtube.com/user/CoinDesk?sub_confirmation=1 CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community. Twitter: https://www.twitter.com/coindesk LinkedIn: https://www.linkedin.com/company/coindesk Instagram: https://www.instagram.com/coindesk Facebook: https://www.facebook.com/CoinDesk Newsletters: https://www.coindesk.com/newsletters CoinDesk Podcast Network: https://open.spotify.com/show/2jyIhkvAQhed8AWDZiPpSP Public Keys: https://open.spotify.com/show/1rqYzRV10nfKfoTpFXZhTE Markets Daily Crypto Roundup: https://open.spotify.com/show/7sDXM8BlxsUqzL2IqmLqwE The Policy Protocol: https://open.spotify.com/show/3Fh8ffulAWcCqMu0uVuwoj