A White House-linked official has warned that failure to pass clear crypto rules in the United States could help China gain ground in digital assets.
Summary
- Patrick Witt warned that failing to pass clear US crypto rules could benefit China’s digital asset ambitions.
- The CLARITY Act remains stalled as lawmakers debate stablecoin yield rules and market oversight.
- The Senate Banking Committee’s narrow GOP majority leaves the bill dependent on full Republican support.
The comments came as debate over the proposed CLARITY Act continues in Washington. Patrick Witt said the United States risks losing leadership if lawmakers fail to approve a full crypto market…
