- White House adviser Patrick Witt is negotiating ethics rules that could restrict Trump-family crypto ventures like the Official Trump (TRUMP) memecoin.
- Democrats want a ban preventing federal officials, including the president, from sponsoring or endorsing digital assets.
- Senate Republicans are aiming for a late-July vote on the CLARITY Act, but ethics and other policy disputes remain unresolved.
- Lawmakers from both parties question whether Witt has the authority to finalize a deal without President Trump‘s direct approval.
White House crypto adviser Patrick Witt is reportedly negotiating with Senate Democrats over ethics language that could limit President Donald Trump‘s crypto businesses, as reported by Politico this week. The discussions are a central sticking point for the Digital Asset Market Clarity Act, which senators are trying to finalize.
However, the political sensitivity has placed Witt at the center of bridging differences between Senate Democrats, Republican lawmakers, and the White House. Democrats are pushing for provisions that would bar federal officials from sponsoring, endorsing, or issuing digital assets.
Consequently, this could directly affect Trump-linked ventures such as the Official Trump (TRUMP) memecoin and World Liberty Financial (WLFI). The growing involvement of the Trump family in digital assets has intensified scrutiny from Democrats concerned about conflicts of interest.
Meanwhile, some lawmakers question Witt’s authority to finalize any agreement. Sen. John Kennedy (R-La.) told Politico, “I don’t think he has any authority to make a deal.” Democrats like Sen. Adam Schiff (D-Calif.) voiced similar uncertainty about whether the White House would accept a deal.
Separately, Senate Republicans are targeting a late-July vote on the legislation before the August recess. Several key policy disputes beyond ethics, including DeFi liability and stablecoin yield restrictions, must still be resolved for any vote to proceed.
Sen. Cynthia Lummis (R-Wyo.) highlighted a core goal, writing on X that the bill makes clear writing code is not money transmission. Any final Senate vote would require bipartisan support to clear the 60-vote threshold.
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