CoinVoice has learned that Patrick Witt, Executive Director of the U.S. President's Digital Asset Advisory Committee, posted on the X platform that the Cryptocurrency Market Structure Act is inevitable, and it is unrealistic to expect a industry worth trillions of dollars to operate without a comprehensive regulatory framework. Patrick Witt pointed out that with the current support from the President, Congress control, and regulators like the SEC and CFTC for cryptocurrencies, the industry should seize the opportunity to pass legislation rather than wait for a future financial crisis to have the Democratic Party enact punitive laws. Patrick Witt emphasized that although the CLARITY Act may not be perfect, compromises are necessary to secure 60 votes in the Senate, and perfection should not hinder the pursuit of excellence.
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CoinVoice has learned that Patrick Witt, Executive Director of the U.S. President's Digital Asset Advisory Committee, posted on the X platform that the Cryptocurrency Market Structure Act is inevitable, and it is unrealistic to expect a industry worth trillions of dollars to operate without a comprehensive regulatory framework. Patrick Witt pointed out that with the current support from the President, Congress control, and regulators like the SEC and CFTC for cryptocurrencies, the industry should seize the opportunity to pass legislation rather than wait for a future financial crisis to have the Democratic Party enact punitive laws. Patrick Witt emphasized that although the CLARITY Act may not be perfect, compromises are necessary to secure 60 votes in the Senate, and perfection should not hinder the pursuit of excellence.