Director of the Presidential Digital Assets Committee: We should seize the opportunity presented by a pro-crypto government to pass a market structure bill.

Patrick Witt, executive director of the President's Advisory Council on Digital Assets, stated in an article on the X platform that a cryptocurrency market structure bill is inevitable, and it's unrealistic to expect a multi-trillion-dollar industry to operate without a comprehensive regulatory framework. Witt pointed out that with a president who supports cryptocurrencies, control of Congress, and a regulatory environment provided by the SEC and CFTC, the industry should seize the opportunity to pass legislation rather than allowing Democrats to enact punitive legislation after a future financial crisis. Witt emphasized that while the CLARITY Act may not be perfect, compromises are necessary to secure 60 votes in the Senate, and perfection should not become an obstacle to the pursuit of excellence.