Patrick Witt steps down from White House crypto role as CLARITY Act stalls
Patrick Witt steps down from his White House crypto policy role. The decision comes as the CLARITY Act stalls in the Senate.
Patrick Witt has exited his White House crypto policy role as the CLARITY Act stalls, according to reports from The Block and BIT Knowledge Hub.
The Senate cloture vote on the legislation failed 49 to 50 on September 15. Meanwhile, the public comment period for the Securities and Exchange Commission Regulation Crypto Assets is set to close on October 20.
What do these terms mean?
Cloture vote: A procedure used in the United States Senate to limit debate and bring a bill or motion to a final vote.
SEC: The Securities and Exchange Commission, the federal agency that regulates securities markets and protects investors in the United States.
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