White House advisor calls CLARITY Act pro-regulation

Patrick Witt, a member of the White House Digital Asset Advisory Committee, has described the CLARITY Act as being both pro-regulation and pro-law enforcement. Speaking at an industry event, Witt warned that if the U.S. does not set its own standards for digital asset regulation, it will be forced to adopt rules made by other countries, The Block reported. He added that recent concerns have been addressed through new provisions and asserted that the bill is not intended to hinder law enforcement. His comments follow recent criticism from some law enforcement agencies and Democratic lawmakers, who have argued the bill could weaken anti-money laundering (AML) regulations and make it more difficult to prosecute financial crimes.