Patrick Witt, executive director of the White House Council of Advisors on Digital Assets, said on Tuesday he expects a comprehensive crypto market structure bill to reach President Donald Trump before the end of 2025.
Witt spoke at Korea Blockchain Week 2025’s Impact conference in Seoul. He said the council is working with lawmakers in both the House and Senate to move the effort through Congress. The goal is to clear legal hurdles and set a stable rulebook for digital assets in the United States.
Where does the bill stand?
Witt said the council is using existing rules and processes to help get the bill across the finish line. He said the group acts as a referee when lawmakers hit an impasse. He also said the council is careful to respect the legislative process and work with both parties.
Which bills feed into the package
Several pieces of legislation are expected to be folded into one market structure bill. A key part is the CLARITY Act, which won House approval in July with bipartisan backing.
Senators have also put forward the Responsible Financial Innovation Act of 2025. Those bills aim to set clear roles for the CFTC and the SEC in regulating crypto.
Witt said lawmakers are building on what is already in place, and he pointed to the Genius Act passed earlier this year as a foundation. That law created a basic framework for stablecoins. The new market structure bill would expand on those rules to cover more parts of the sector.
White House push to bring firms back
Witt said the administration wants to attract digital asset companies to return to the U.S. He said the goal is to make the country open for business. He added that previous moves pushed some firms offshore, and the White House wants them to come back.
“We are moving out full speed ahead on crypto,” Witt said. “We are trying to bring as many of these companies back on shore that were driven offshore by previous moves that our preceding regime put in place.”
Industry engagement
Witt said the council is in regular contact with industry players. He said the council is “one phone call away” for companies that want to talk to the administration. Harry Jung, deputy director of the President’s Council of Advisors for Digital Assets, said meeting firms helps officials make better decisions.
“For us as government officials to make good, positive decisions, when we meet with these innovators, when we meet these companies, that gives us a better colour of what’s happening in real time, for us to make those positive decisions,” Jung said.
Why jurisdiction matters?
A central aim of the bills is to draw a clear line between the CFTC and the SEC. Lawmakers want to avoid overlap and uncertainty that can slow business and investment. Clear jurisdiction could make it easier for exchanges, funds and other firms to operate.
Practical hurdles ahead
Even with a push from the White House, the work faces challenges. Different political views in Congress could slow agreement, and legal details and the technical nature of crypto rules may also require lengthy negotiation.
The effort in Washington comes as other nations also move on digital asset policy. UnoCrypto recently reported that the U.S. and the U.K. set up a task force to coordinate on digital asset rules and cross-border market links. That shows attention to the issue is growing on both sides of the Atlantic.
Witt said the council will keep working with members of both chambers. He said the aim is to present a unified bill that can win votes. The 180 days and exact steps will depend on talks with lawmakers and the speed of drafting.
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