Trump's Crypto Dealings Become 'Political Issue', Says White House Advisor
White House cryptocurrency advisor Patrick Witt criticized Democrats for making President Donald Trump's cryptocurrency dealings a 'political issue'.
Witt pointed out that Senators on banking committees themselves hold and actively trade stocks in financial companies they regulate, which is legally allowed as long as transactions are reported within required timelines.
The president agreed to unprecedented ethics provisions in the CLARITY Act, including banning all federal officials from issuing or sponsoring digital assets and either divesting significant cryptocurrency holdings or placing them in a blind trust.
Witt also blamed the 'aggressive' banking lobby for derailing the cryptocurrency legislation. He argued that if their claims were true, that the bill's failure would mean the death of community banking, then community banks themselves would be the biggest losers from the failed vote.