Trump's Ethics Pledge Is 'Historic': White House's Patrick Witt

Summary

Rebecca Rettig and Renato Mariotti discuss SEC Commissioner Hester Peirce’s guidance on crypto vaults, the London Stock Exchange’s planned 24/5 tokenized market, and the path of the Clarity Act. Guest Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets, defends the bill's ethics provisions, CFTC resource needs, and its importance for US digital asset leadership.

• SEC Commissioner Hester Peirce issued a statement on crypto vaults and on-chain lending, warning they may involve securities.
• London Stock Exchange announced LSE 24, a 24/5 tokenized market launching in late 2026.
• Patrick Witt expressed optimism that the Clarity Act will receive a Senate floor vote before the August recess.
• Witt called the bill's ethics restrictions on the president 'historic' and unprecedented.
• The Clarity Act would give the CFTC spot market authority alongside expanded resources and user-fee authority.
• Witt argued the bill is not a giveaway but imposes real compliance burdens on crypto companies.
• The hosts praised state attorneys general for constructively engaging on digital asset regulation.