CoinDesk Podcast Network WH Advisor Patrick Witt: Shutdown's "Strange” Silver Lining For Crypto Bill Talks
Nov 7, 2025
Patrick Witt, White House Executive Director of the President’s Council of Advisors for Digital Assets, shares his insights on federal crypto market-structure legislation. He expresses confidence that the bill will be finalized by 2026 and explains how the government shutdown has quietly enhanced negotiation focus. Witt argues for proactive legislation to avoid crisis-driven rules and discusses the importance of balancing state and federal regulations. He also touches on the need for inclusivity in DeFi and harmonizing roles between the SEC and CFTC.
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Bipartisan Bill Progress Nears Completion
- Patrick Witt expects a bipartisan market-structure bill will be finalized and sent to the president soon.
- He cites recent constructive engagement between Republicans and Democrats as the catalyst for progress.
Shutdown Quieted Noise, But Reopening Still Needed
- Witt says the government shutdown oddly reduced distractions, allowing deeper substantive meetings on the bill.
- He still stresses the government needs to reopen soon to finish work and maintain momentum.
Legislate Now To Avoid Crisis-Driven Rules
- Legislating before a crisis lets Congress craft clearer, less burdensome rules for crypto.
- Witt argues this will avoid reactionary laws and incorporate a decade of industry learning into the bill.