Executive Director of the President’s Advisory Council on Digital Assets Patrick Witt has once again postponed his mandatory military training with the Georgia Army National Guard, originally scheduled for July 27. This marks the second delay requested by Witt following a similar move in April 2026, specifically to shepherd final negotiations for the CLARITY Act - the first comprehensive crypto regulatory framework in the United States.
This postponement was not made under stable operational conditions.
Losing a Successor Ahead of Recess Deadline
Deputy Director Harry Jung recently announced his resignation and will leave his post within the next two weeks. The departure disrupts the council’s initial plans, as Jung was slated to take over leadership duties and daily negotiations from Witt during his military service.
The deputy’s resignation complicates succession right before a crucial deadline. The Senate must pass the CLARITY Act before entering its summer recess on August 8. Senate Majority Leader Thune is targeting a vote before the recess begins, but Republicans still require Democratic support to overcome procedural hurdles on the Senate floor.
Why Have the Odds Dropped to 31 Percent?
Market concerns over these political hurdles were immediately reflected on the prediction market Polymarket, where the odds of the bill passing in 2026 plunged to 31%. The drop was triggered by a stalemate in negotiations over ethics rules directly scrutinizing Donald Trump’s $1.4 billion in crypto assets.
The White House has not yet agreed to the new ethics provisions proposed by Democrats. The rules would restrict crypto holdings for government officials - a sensitive issue given Trump holds several digital assets such as the TRUMP memecoin and is involved in the World Liberty Financial project.
Amid stalled negotiations in Washington, corporate players are beginning to close ranks. Coinbase Vice President Ryan VanGrack stated that his company now supports the latest draft of the CLARITY Act, which includes additional consumer protections proposed by Democrats. This marks a 180-degree reversal from January 2026, when Coinbase CEO Brian Armstrong strongly opposed an earlier version of the bill.
For market participants, Witt’s decision to hold off on his military schedule underscores the high stakes ahead of the August recess. The real test this month is no longer drafting technical consumer protection points, but pushing politicians to separate state regulations from their personal crypto portfolios.
Reported via Cointelegraph.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
