Witt: Time Running Out to Pass Crypto Bill Amid Senate Concerns

Patrick Witt, executive director of Trump's Council of Advisers on Digital Assets, believes that time is running out to pass the crypto bill. He has been visiting Senate offices to address concerns and resolve issues with the legislation.

Witt expressed optimism about a September 15 procedural vote, stating that even if changes are not made upfront, amendments can be added later through the amendment process.

The bill aims to set up a market structure for digital assets, but it has faced opposition from Democrats and Republicans due to concerns over ethics provisions and illicit finance. Witt acknowledged these concerns and stated that the White House is working with Senators Tillis and Gallego to integrate their proposed language into the existing provision.

Witt also addressed the issue of state attorneys general prosecuting presidents over digital asset profits, stating that it raises constitutional questions and could lead to a tit-for-tat situation. He emphasized the importance of passing the bill to establish clear rules for the industry.