White House: Crypto Ethics Rules Must Apply to All

The U.S. government is racing to pass the Clarity Act, a landmark crypto market structure bill, with the White House insisting that regulatory progress must not be derailed by political gridlock. Patrick Witt, Executive Director of the President's Council of Advisors on Digital Assets, argues that the bill is now within reach after a year of intensive negotiations, with key issues like stablecoin yields resolved through a compromise that leaves both crypto and banking sectors dissatisfied—a sign, he says, of a balanced outcome. The White House is adamant about maintaining ethics rules that apply universally, rejecting any provision that could be seen as targeting the president personally. Meanwhile, the implementation of the Genius Act, which established stablecoin regulations, is moving forward at an unprecedented pace, with all five federal agencies involved completing proposed rules on schedule. On the broader strategic front, the U.S. is laying the groundwork for a national Bitcoin Reserve, with the government halting fire-sale liquidations of seized digital assets and working to secure them in a centralized, properly safeguarded stockpile—though full implementation will require future congressional authorization. The stakes are high: without action this year, the U.S. risks ceding global leadership in digital finance to rivals like China. The episode reveals a rare moment of bipartisan alignment on crypto regulation, driven by urgency and a shared belief that the U.S.