Executive Director, President’s Council of Advisors for Digital Assets; Deputy Director, Dept. of War Office of Strategic Capital 🇺🇸

Joined May 2012
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Dominant performance by Coach Russell Crowe and Team USA. @USMNT 🇺🇸
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There’s never been a better time to join the @CFTC as the agency prepares for its expanded mission.
The @CFTC is hiring. We’re recruiting the best and brightest to join our team and leveraging technologies like artificial intelligence to keep pace with the new frontier of finance and make efficient use of taxpayer dollars.
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Clarity for market structure, Parity for tax. Great work, @WaysandMeansGOP.
Today, the Ways and Means Committee unveiled 6 bills aimed to create clarity, parity, and administrability of digital assets and maintain America’s status as the crypto capital of the world.
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Big week ahead for Clarity. The work has continued in earnest behind the scenes since the Banking markup. The issue set has narrowed, and good faith offers are being put forward to close the gap. But time is of the essence.
Coinbase, Ripple among over 200 crypto organizations urging Senate Clarity Act vote theblock.co/post/403964/coin…
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The Clarity Act is the most pro-law enforcement crypto bill ever considered by Congress. Fact.
1/ Today, we’re sending a letter to Senate Majority Leader Thune and Senate Democratic Leader Schumer signed by 160 former national security, intelligence, and law enforcement professionals in support of the Clarity Act. theblockchainassociation.org…
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Patrick Witt retweeted
May 29
Debate is healthy, but the facts on CLARITY aren’t debatable.   1 - On rewards: Section 404 addresses banks’ purported concerns by barring any digital asset service provider or their affiliate from paying rewards in a manner that is economically or functionally equivalent to the payment of yield on a bank deposit and more (e.g., captures direct and indirect arrangements, includes strict anti-evasion language and civil penalties, etc.). Crypto gave many real concessions here.  2 - On AML/BSA:  CLARITY bolsters law enforcement’s authority / capacity to target bad actors and CIF with clear obligations for digital asset companies, coordinated info-sharing mechanisms, protections that close regulatory gaps, increased funding for FinCEN, and much more (see, e.g., sections 201-206, 301-313, 507, 508, 801, 903, etc.).  3 - On benefits to banks: CLARITY ensures banks may engage in a broad range of activities, including providing digital asset custodial services, operating a node, making loans collateralized by digital assets, providing self-custodial wallet software, and more (see § 401).  4 - On benefits to Americans: Crypto represents ~$3 trillion global market cap, but currently 88% of global trading volume occurs on non-U.S. exchanges and only 19% of crypto developers are located in the U.S. CLARITY will bring all this onshore, under U.S. regulatory oversight. CLARITY has benefits that extend far beyond any one company or constituency. This is a bill for ALL Americans, including banks. CLARITY awaits. The time is now.
🚨NEW: JPMorgan CEO Jamie Dimon took aim at the Senate's crypto market structure bill today, arguing it "doesn't do anything for AML/BSA" and provides "almost no legal protections." When asked for comment, a spokesperson for @SenLummis told me: "The banks can’t deal with a bipartisan compromise on stablecoin yield and are making completely false claims about BSA/AML as a last ditch attempt to poke holes in a solid piece of legislation that protects consumers. Fear of competition always brings out an interesting side of people and that’s all this is.”
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This is an odd clip. I find it hard to believe that the CEO of a major BBB could be this uninformed about a major piece of financial legislation. The Clarity Act “doesn’t do anything for AML/BSA.” Really? Have you read Titles II or III? “It allows them to effectively pay interest on deposits.” False. Section 404 explicitly prohibits digital asset companies from paying any form of interest or yield on a stablecoin balance in a manner that is “economically or functionally equivalent to the payment of interest or yield on an interest-bearing bank deposit.” It is becoming increasingly clear that bank opposition to the Clarity Act is more about personality than policy.
🏦 JPMorgan CEO Jamie Dimon warns stablecoins could become a "huge problem" and says he is not happy with the Clarity Act. 🎙️ When asked about Coinbase CEO Brian Armstrong representing the industry, Dimon said, "He's full of sh!t."
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Americans finally have access to a product that was developed and flourished offshore solely due to the anti-innovation posture of the previous administration. Great work by @ChairmanSelig and the CFTC team. With clear rules, America wins.
In my first public remarks as @CFTC Chairman, I made clear that the agency would use the tools at its disposal to onshore crypto asset perpetuals. Today, the @CFTC delivered on that commitment. This morning, the @CFTC took historic action to permit the listing of a true bitcoin perpetual contract by a CFTC-registered exchange, charting a path for one of the most liquid segments of the crypto asset markets to exist within the US regulatory framework.
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Patrick Witt retweeted
JUST IN: 🇺🇸 Treasury Secretary Scott Bessent urges lawmakers to advance the Clarity Act: "There most important thing we can do is to make digital assets come into the United States. Make the U.S. the home." "I would encourage the House and the Senate to get Clarity done."
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Patrick Witt retweeted
May 28
Yesterday, I published a @CoinDesk op-ed. CLARITY isn't just about today's America. It's about tomorrow's America, and the rules our children will inherit. As a parent of young kids, this isn't just policy for me. We owe it to them to get this right. The time is now. coindesk.com/opinion/2026/05…
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It’s time to pass the Clarity Act.
BREAKING: President Trump releases a statement on crypto. “Trump will never let crypto down,” he says.
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Well said.
We have to get this infrastructure act passed because without it tokenization will never be adopted by institutional index. Neither will Bitcoin, which is still a fringe asset to the big guys. It has to become compliant globally within the SEC with an actual passage of a bill. When that occurs, it's gonna change everything. It hasn't happened yet and the midterms are coming in November. The chance to pass this bill is now even though there's huge debate about interest or yield or awards on stable coins which were passed on Genius. Look what happened to stable coins. Almost immediately they got adopted globally. Almost immediately. That's what happens when the bill passes, so we need that to occur.
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Patrick Witt retweeted
This week, the Senate Banking Committee proved Washington can still work together. Passing the bipartisan Clarity Act was historic and personal to me. My mother raised my brother and me with faith, grit, and determination, teaching us that the American Dream should be within reach for every family. Proud of @BankingGOP for taking a step forward to make America the crypto capital of the world!
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As they say, life is sometimes like a pie-eating contest where the reward for success is more pie. Yesterday’s bipartisan markup of the Clarity Act was a major step forward, but as Senators on both sides of the dais noted, there’s more work to be done before this legislation is ready for prime time. We’ll keep working in good faith to build the support needed to pass the bill on the Senate floor. 🥧
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Patrick Witt retweeted
After a historic bipartisan vote to advance the Clarity Act, industry leaders are praising Chairman @SenatorTimScott and the Senate Banking Committee for their continued efforts to establish America as the crypto capital of the world. banking.senate.gov/newsroom/…
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Patrick Witt retweeted
UPDATE: the Clarity Act has passed out of the Senate Banking Committee. Congrats to Chairman @SenatorTimScott @SenLummis @BernieMoreno and their staffs on a job well done. Thank you also to @SenThomTillis for his efforts to ensure that today’s vote was bipartisan.
Today, Chairman @SenatorTimScott led Banking Committee Republicans and Democrats in a historic bipartisan markup to advance to Clarity Act, legislation that will establish clear rules of the road for digital assets.
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Strawberry Passion Fruit? My bad.
A few minutes after the Senate Banking Committee has wrapped up its crypto markup, the room is empty except for a few reporters filing stories and a lone can of Celsius on the witness table
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Today, the Senate Banking Committee will vote to advance the CLARITY Act. I am proud of the countless hours that my team, Treasury, SEC, CFTC, and Senate Banking staff and members have put into shaping this product. On every issue, we put forward real solutions to address stakeholder concerns or Democrat demands. It often required us to get creative; sometimes, it required us to get uncomfortable. But we did it in the spirit of bipartisanship. Make no mistake: Whether today’s vote is partisan or bipartisan will depend entirely on politics, not policy. The CLARITY Act is not only good policy, it is necessary policy for the United States to maintain our leadership position in global financial markets. Not to mention the robust consumer protections and anti-illicit finance provisions it contains, without which, there are none. This morning’s vote will reveal whether Democrats have genuinely moved on from their war on crypto, or whether they remain cowed by Elizabeth Warren. The choice is theirs.
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Patrick Witt retweeted
It is time to make America the crypto capital of the world. It is time to pass the Clarity Act. It is time for America to lead. The future of digital assets belongs to us — if we choose to act.
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