White House Digital Assets Adviser Says Crypto Clarity Act Could Unlock Trillions in Institutional Capital

Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets, said on Feb. 13 that the Digital Asset Market Clarity Act could unlock trillions of dollars in institutional capital currently awaiting entry into the digital asset market, Yahoo Finance reports. The House passed its version of the Clarity Act last July, while the Senate is advancing its own draft, including a Commodity Futures Trading Commission section moved through the Agriculture Committee and an ongoing Securities and Exchange Commission section under discussion in the Banking Committee. Witt noted that negotiations remain focused on contentious issues such as stablecoin rewards and potential deposit flight from community banks, token taxonomy, decentralized finance oversight, and concerns that the SEC could take on too much authority from the CFTC. He characterized regulatory clarity and clearly defined jurisdictional boundaries as central to enabling greater institutional participation while addressing bipartisan concerns over stablecoin regulation and agency oversight.