Key facts
- White House crypto adviser Patrick Witt is taking a month-long military leave for Army National Guard JAG training.
- Witt's departure is expected to cause the odds of the Clarity Act passing this year to drop significantly.
- Deputy director Harry Jung will assume Witt's responsibilities during his absence.
- Senator Elizabeth Warren is advocating for the inclusion of ethics rules in the Clarity Act.
- President Donald Trump has urged the Senate to pass the Clarity Act.
White House crypto adviser Patrick Witt is departing for a month-long military leave to begin Army National Guard JAG training, a move that has significantly lowered the odds of the Clarity Act being signed into law this year. Witt, who is the lead negotiator for the Trump administration on the crypto market structure bill, is expected to return on July 27.
During Witt's absence, deputy director Harry Jung is expected to take over his responsibilities. The Clarity Act faces a critical legislative timeline as the Senate races to bring it to the floor before the August recess. The bill has encountered delays due to negotiations over ethics provisions, particularly concerning potential profits by government officials in the crypto industry, a point emphasized by Senator Elizabeth Warren.
Warren has urged Senate leaders to incorporate strong ethics guardrails into the bill to prevent individuals like President Donald Trump from profiting from crypto ventures. Despite these challenges, President Trump has encouraged the Senate to pass the Clarity Act.