White House advisers came out to protect President Trump's crypto business relationships after drafting the Clarity Act.

The president agreed to accept ethics rules, not just one but two that had never existed before. Witt said in addition to being willing ultimately to stay under a law requiring Trump to forfeit his interest in digital assets or transfer them to an independent advisory company (blind trust), the administration was also prepared to allow state prosecutors to sue the federal government if it did not pursue ethics violations.

"That is an unprecedented code of ethics, the broadest, toughest and most restrictive that any president has ever agreed to", Witt said.

He noted that in the case where Democrats accuse Trump of having an undue conflict of interest from regulating digital asset policy while still controlling his own cryptocurrency universe, "there is some disagreement when you consider we are dealing with a very large number of Senate committees on banks holding bonds and buying and selling shares of currency companies he oversees".

Witt's main role is to push for the enactment of the Clarity Act, which faced a major hurdle last week after the U.S. Senate was unable to get the bill passed. He said in CoinDesk Policy & Regulation on Tuesday that it wasn't an important focus at Congress' year-end quarterly meeting (lame duck session), noting that key jobs are currently being transferred through regulatory agencies overseen by the federal government such as the Securities and Exchange Commission (881000).