White House crypto advisor: The crypto bill will not accept provisions targeting Trump personally

The Executive Director of the U.S. Presidential Advisory Committee on Digital Assets, Patrick Witt, stated that the White House will not accept provisions in the cryptocurrency market structure legislation that directly target President Trump or his family's digital asset businesses, as such content has been clearly marked as a "red line."

Witt mentioned that the anti-corruption or ethical provisions previously proposed by some Democratic lawmakers are "completely unacceptable," emphasizing that the core of the bill is the regulation of the cryptocurrency market, not ethical scrutiny. He expressed hope that the Democratic side could propose a more "reasonable and negotiable" version to advance the legislation.

Witt also pointed out that the current primary goal of the White House is to facilitate a bill that can be submitted for the President's signature, while seeking a compromise amid the disagreements between the banking sector and the cryptocurrency industry regarding stablecoin revenues. However, he also admitted that the Democratic demand to restrict government officials and their families from participating in the cryptocurrency industry remains one of the main obstacles to advancing the legislation.