Fourth exit from White House crypto council leaves stablecoin rules in limbo

Allegations have emerged that a former adviser profited from the passage of the GENIUS stablecoin law. The case adds to scrutiny of conflicts of interest in the US government. Separately, Patrick Witt has stepped down as the White House adviser on digital assets.

Witt is the fourth senior official to leave the advisory group. The departure creates a leadership vacuum on the presidential crypto council. Implementation of the legislation is uncertain without clear command and without a set timetable.

The market is waiting for a replacement to carry forward the pro-crypto agenda. Political instability is delaying clear rules for stablecoins and market structure. Regulatory uncertainty persists in the United States and weighs on global investors with exposure to digital assets.