U.S. lawmakers and White House officials used a Nakamoto Stage panel to argue that clear crypto rules will decide whether the United States leads or cedes ground in the next phase of financial innovation.
The discussion, titled “Are We Getting More Clarity?”, focused on the Clarity Act, enforcement under past administrations, and the risk that political swings could undo progress on crypto regulation.
Senator Cynthia Lummis warned that another hostile administration would mean “game over for sensible regulation,” framing the 2026 election cycle as a direct test of whether Congress can lock in a durable framework for digital assets.
She argued that predictable rules are now essential for builders and capital, and said the industry cannot plan around policy that shifts with each change in the White House. Lummis also pushed back on concerns about crypto and crime, saying “it’s easier to solve crimes in digital assets than fiat currencies” because transaction records give law enforcement a trail that cash does not.
Witt:USA should dominate in crypto
White House digital asset adviser Patrick Witt set out an aggressive vision for U.S. leadership. “We want to dominate,” he said, calling crypto “the future of financial infrastructure” and tying that claim directly to passage of the Clarity Act. He said that once lawmakers deliver a clear regime for digital assets, “Bitcoin and crypto will take off like a rocketship,” with greater integration into markets and the banking system.
Witt described the bill’s focus as defining obligations for exchanges that list exchange-traded products, wallet providers, and developers who build on Bitcoin, and said that set of rules is “critically important” so market participants understand their responsibilities and can connect Bitcoin more deeply to the broader financial system.
Witt also criticized earlier policy and enforcement choices. He said the industry “got wrongly targeted and criticized” in recent years, which he argued pushed innovation offshore and let foreign hubs claim core parts of the market.
He pointed to the location of the largest centralized exchanges outside the United States as “a failure of U.S. leadership,” and cast the Clarity Act as a chance to reverse that trend. In his view, the measure could bring trading venues and developers back onshore and support a domestic ecosystem around Bitcoin exchange-traded products, custody, and payments infrastructure.
Across the panel, speakers returned to the same question: whether Washington will offer lasting clarity or continue to rely on fragmented enforcement. Lummis framed the stakes in terms of investor protection and national competitiveness, while Witt stressed the opportunity to anchor the next wave of financial infrastructure in the United States. Both cast the coming legislative window, and the election that follows it, as a turning point for Bitcoin, broader crypto markets, and the country’s role in them.
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
