The White House's crypto chief departs: State of Crypto

White House Executive Director of the President’s Council of Advisors for Digital Assets Patrick Witt is leaving government service and returning to the private sector. Where does that leave the council?

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The narrative

The White House does not currently have a publicly named crypto head. Patrick Witt, the most recent adviser to President Donald Trump, said he was out last week, and a successor has not yet been named.

Why it matters

While most of the DC focus right now is on next month's midterm election, the executive branch is still engaging in rulemaking and other efforts around digital asset policymaking. And next year, after a new Congress is sworn in, any crypto-related legislating will likely still need a White House liaison.

Breaking it down

CoinDesk's Jesse Hamilton walks through the apparent vacancies for a crypto adviser at the White House in this analysis from last week.

A White House official told him that crypto and the Digital Asset Market Clarity Act would continue to be a focus for Trump.

But with Witt's departure, and the previous departures of Harry Jung and Bo Hines, the question becomes what that focus looks like. The White House in 2027 will need to navigate a fresh attempt at crypto legislation, which will likely include tax legislation before market structure reform; a potentially hostile chamber of Congress, if Democrats flip the House of Representatives; and the ongoing rulemaking efforts by the Securities and Exchange Commission, Commodity Futures Trading Commission, Office of the Comptroller of the Currency (and the Treasury Department more broadly) and other agencies.

This week

• There are no hearings that we are tracking this week.

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See ya’ll next week!