White House Crypto Advisor Backs Clarity Act, Citing Support for Regulation and Enforcement

According to Odaily, White House chief crypto advisor Patrick Witt backed the Clarity Act as a "pro-regulation, pro-enforcement" bill, refuting criticism from some law enforcement agencies that it fails to prevent financial crimes.

The Clarity Act faces multiple controversies, including stablecoin yield arrangements, conflicts of interest from Trump-related crypto ventures, and concerns that anti-money laundering standards may be insufficient. The latest version incorporates the Blockchain Regulatory Certainty Act (BRCA), which clarifies that non-custodial developers should not be treated as money transmitters. However, some enforcement groups worry the BRCA could weaken tracking of illicit funds and asset recovery. Senator Cynthia Lummis warned that if the bill fails to advance this year, it may not receive serious consideration again until after 2030.