Thank you, Patrick.
@patrickjwitt brought his extraordinary dedication and energy to one of Washington’s toughest jobs. Building consensus on crypto market structure was no small task, and his tireless efforts helped advance the debate. We’re grateful for his service and wish him the very best.
🚨NEWS: @patrickjwitt’s detail to the White House Crypto Council has expired, ending his role as the council’s executive director, the White House confirmed in an email to me.
“The White House appreciates his service to the Trump administration and wishes him the best in his future endeavors,” an official said.
1/ Crypto is winning in Washington right now.
Last week, the Chairman of the CFTC stood up in New York and told this industry: "Build here."
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https://t.co/T82UZ2060q
"The next is trading those tokens and tokenized U.S. equities onchain. This has probably been one of the most compelling stories on Solana over the last 18 months outside of the United States."
– @millercwl, CEO at @SolanaInstitute at Solana Summit Korea
The crypto industry has come a long way in Washington. From regulation by enforcement and de-banking to the Genius Act and agencies with the political cover to act.
"I think crypto, as an industry and a technology, is winning right now in Washington." - @KristinSmith
Crypto is winning in Washington.
We’re right where we've wanted to be, thanks to @ChairmanSelig and Chairman @SECPaulSAtkins.
Thank you, @scarletfu and @BloombergTV, for having me on.
https://t.co/rjtbw1Bh5P
A full rulemaking process at the SEC or CFTC takes 18 to 24 months, setting up a big push to get crypto rules finalized before 2028.
@KristinSmith, President of @SolanaInstitute, tells @RemyBlaireNews once people start relying on products like tokenized equities, which can trade all hours of the day, "nobody's going to want to undo those rules."
1/ Today is Commissioner @HesterPeirce's last day at the SEC.
She joined the Commission in 2018 and for almost nine years, nobody in government stood up for American developers more consistently.
She leaves behind a deeply American idea: people should be free to build.
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“We come here to get things done.”
Thank you to @Sen_Alsobrooks for joining SPI at Crypto Mornings with @PuckNews and sharing why you remain committed to working across the aisle to advance market structure legislation.
Mark Wetjen, president of @Backpack US, on the growing demand for tokenized securities: “There’s clearly appetite for trading these assets around the clock.”
Much of the trading in Backpack’s tokenized securities on @Solana is happening after U.S. markets close.
Thank you @SteveDaines, @SenLummis, @berniemoreno and @SenatorTimScott for introducing the ADAPT Act. We look forward to working with Congress on tax rules that support everyday use of digital assets and advance U.S. innovation.
Digital assets have moved into the mainstream, but the tax code hasn’t kept up. My bill would create clearer rules for stablecoins, network fees, staking and lending—while extending familiar tax rules like wash sales and constructive sales to digital assets.
The SEC's innovation exemption for tokenized securities is huge for the industry.
@KristinSmith, President of @SolanaInstitute, tells @RemyBlaireNews chains like Solana can integrate with the existing financial system to make issuing and trading securities cheaper and faster.
At Solana Summit DC, @AlliumLabs’ @ethanyish breaks down how Solana is serving two sides of the market:
Institutions are using Solana for issuance. Retail is using it for trading.
Low fees + high throughput + global reach. @solana's infrastructure enables it all.