meta_pixel
Tapesearch Logo
Log in
CoinDesk Podcast Network

Patrick Witt Says 'Let's Not Let Perfect Be the Enemy of Good' in Stablecoin Standoff

CoinDesk Podcast Network

CoinDesk

Business News, Daily News, News, Tech News

4.7698 Ratings

🗓️ 3 February 2026

⏱️ 13 minutes

🧾️ Download transcript

Summary

Following up on the White House crypto meeting with Executive Director of the President's Council of Advisors on Digital Assets Patrick Witt. Speaking with CoinDesk's Jennifer Sanasie and Sam Ewen at the Ondo Summit, Patrick Witt, Executive Director of the President's Council of Advisors on Digital Assets unpacks the high-stakes negotiations surrounding the new market structure bill. Plus, he weighs in on the push for America to remain an innovation hub, bridging the gap between banks and crypto, and addresses the ongoing debate over ethics provisions and government official asset disclosures. - Timecodes: 00:47 - Inside the White House Crypto Meeting04:06 - Will Community Banks Embrace Innovation?06:29 - Why This Bill is the "Crown Jewel" for Crypto?07:41 - Does Legislation Pass Before Midterms?09:05 - How Do We Depoliticize the Perception of Crypto?11:10 - White House Won't Tolerate Attacks on President in Crypto Bill12:53 - How Much Bitcoin Does the U.S. Government Hold? - This episode was hosted by Jennifer Sanasie and Sam Ewen.

Transcript

Click on a timestamp to play from that location

0:00.0

We do view this bill as kind of the crown jewel, the final piece here that we need.

0:05.6

Depending on who you're talking to in industry, kind of where they're seated in the overall

0:11.0

ecosystem, many would say that this bill is as important or perhaps more important, certainly

0:15.0

for their business models than genius.

0:16.8

So we've got a job to do here.

0:19.2

I'm committed to getting it done.

0:21.2

I'm encouraged by what I heard yesterday from the people around the table that they're also committed to getting this done.

0:32.9

We are now joined at the desk by the executive director of the president's Council of Advisors for Digital Assets at the White House.

0:40.3

Patrick Witt. Hey Patrick.

0:42.3

Hey, how you doing?

0:43.3

Yeah, we're doing good. How are you doing? You came off of a big meeting yesterday.

0:46.3

It was a big meeting, productive meeting, constructive.

0:49.3

Folks came forward, you know, aired their views. I think we exposed some new areas of agreement,

0:55.5

which was great, and really zeroed in on the areas of sharpest disagreement. And then from there,

1:01.1

we're kind of forming up teams to continue the discussions, get down to red lines and start

1:05.7

trading paper and hopefully see if we can solve this. Can you talk to us a little bit more about

1:10.0

where those areas of

1:11.0

agreement lay and where there is still disagreement? I think the main area of agreement is

1:16.6

folks understand they're not trying to deceive customers here. So disclosure, some of the

1:20.6

prohibited marketing practices, not being able to say that these are FDI insured, deposits, for example,

1:26.3

anything that would deceive someone

1:27.6

into thinking that these products are something that they're not. That's definitely an area of agreement.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.