Executive Summary

Patrick Witt, appointed by President Donald Trump, is stepping into a crucial role as the new cryptocurrency adviser to the administration. He aims to accelerate the market structure bill, enforce the new stablecoin law, and establish a federal bitcoin reserve.

Key Points

• Transition of Leadership: Patrick Witt replaces Bo Hines, who moved on to Tether, continuing the administration’s push for comprehensive crypto policy.
• Top Priorities: Witt identified the Senate’s market structure bill, the stablecoin law, and the establishment of a federal cryptocurrency stockpile as urgent tasks.
• Legislative Engagement: In a recent interview, Witt emphasized a collaborative approach to gather bipartisan support for the crypto legislation, which remains a pressing concern for the administration.

Public Remarks

In his initial comments, Witt stated, “We’re keeping the pedal to the metal,” highlighting the commitment to push forward on legislative initiatives. Furthermore, he expressed confidence in moving bipartisan matters through the Senate to align with House expectations.

Witt will be addressing the industry at CoinDesk’s upcoming Policy and Regulation event.