Crypto Chaos: Trump’s Advisor Says “Pass It or Regret It”

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Ripple CEO Brad Garlinghouse has thrown his weight behind Trump’s crypto whisperer, Patrick Witt, in a saga that’s less “legislation” and more “legislative soap opera.” The debate? Whether to pass a crypto bill that’s “good enough” or wait for one that’s “perfect”-spoiler alert: perfection is about as likely as a tax return from a cat.

Garlinghouse, the man who’s spent more time in court than a daytime TV judge, has cozied up to Witt, Trump’s crypto consigliere. Together, they’re like the Batman and Robin of blockchain, minus the capes and plus a lot of legal jargon. Witt, who works in the crypto policy team of the current administration (yes, the one that thinks crypto is both the future and a Ponzi scheme), has been tweeting like his thumbs are on fire.

In a recent X-post, Garlinghouse channeled his inner Marie Kondo, declaring, “Let not perfection be the foe of good.” Because, let’s face it, if we waited for perfection in Washington, we’d still be using quills and parchment.

The Great “Good Enough” vs. “Perfect” Smackdown

Witt kicked off the drama with a tweet that was equal parts audacious and exasperated: “No bill is better than a bad bill.” Thanks to Trump’s victory, he says, we’re living in a crypto utopia where the SEC and CFTC are suddenly BFFs. But don’t get too comfy-Witt warns that if we don’t act now, the Democrats will swoop in with regulations so punitive they’ll make Dodd-Frank look like a Hallmark card.

Witt, ever the pragmatist, insists an inclusive crypto market-structure bill is coming. It’s not a matter of “if,” but “when.” And by “when,” he means “before the next crypto crash makes Congress panic and pass something draconian.”

“No bill is better than a bad bill.”

What a privilege it is to be able to say those words thanks to President Trump’s victory, and the pro-crypto administration he has assembled.

But let’s not kid ourselves. There will be a crypto market structure bill – it’s a question of…

– Patrick Witt (@patrickjwitt)

Source: patrickjwitt

Witt paints a grim picture: pass the bill now, or face the wrath of a Democratic-led regulatory apocalypse. It’s like choosing between a root canal and a colonoscopy-neither is great, but one is definitely worse.

The CLARITY Act: Crypto’s Hail Mary

For the crypto industry, the CLARITY Act is the equivalent of a life raft in a sea of regulatory sharks. It aims to finally answer the question: “Is this thing a security or a commodity?” Exchanges, tired of playing regulatory Whac-A-Mole, would finally know which rulebook to follow. And Ripple? Well, they’re practically frothing at the mouth for this bill, hoping it’ll end their never-ending SEC saga.

The stakes are high, especially for Ripple, whose battle with the SEC over XRP has been more dramatic than a daytime soap opera. Clear legislation could finally give them the green light to expand without fearing a regulatory smackdown.

You might also like: Trump’s Crypto Advisor Warns: Pass Bill Now

Garlinghouse: The “Good Enough” Evangelist

Garlinghouse, ever the optimist, is all-in on Witt’s plan. He’s like the crypto version of a life coach, shouting, “Clarity over chaos!” from the rooftops. On X, he doubled down: “No piece of legislation has ever been perfect, but a clear framework is better than a regulatory Wild West.”

“Let’s not let perfect be the enemy of good” – this right here is the key. No piece of legislation has ever been perfect by everyone’s standards. What we need is a clear framework, allowing innovation to flourish – exactly what Market Structure will deliver.

I’ll keep saying it…

– Brad Garlinghouse (@bgarlinghouse)

Source: bgarlinghouse

Witt, meanwhile, is busy listing the current crypto-friendly conditions: Republicans in control, a pro-crypto SEC and CFTC, and an industry that’s booming. It’s like the stars have aligned-or, more accurately, the planets have temporarily stopped throwing wrenches into the works.

The Clock Is Ticking, People

But this crypto honeymoon won’t last forever. Washington’s political landscape shifts faster than a Bitcoin price chart. Witt warns that if we don’t act now, a future crisis could lead to regulations so harsh they’ll make the current ones look like a gentle nudge.

The CLARITY Act isn’t perfect-some stakeholders are already grumbling-but Witt argues it’s the best we’re going to get. Compromise, he says, is the name of the game if we want to get 60 Senate votes. And let’s face it, getting 60 senators to agree on anything is like herding cats-blindfolded.

Witt encourages stakeholders to keep refining the bill, but not at the expense of progress. “Good should not be held hostage by perfection,” he says, probably while staring at a poster of Ronald Reagan.

Ripple’s Big Bet on Regulatory Clarity

For Ripple, regulatory clarity is the golden ticket. With it, they can finally expand their cross-border payment solutions without fearing a legal ambush. XRP’s status would be clear, and Garlinghouse could stop spending his days in court and start focusing on, you know, running a company.

Garlinghouse’s support for Witt’s plan shows he’s not just looking out for Ripple-he’s championing the entire industry. The debate now is about seizing the moment before the window slams shut. As Witt put it in a recent tweet, “Fail to act now, and you’ll be begging for this bill later.”

So, will Congress pass the CLARITY Act, or will they let perfection be the enemy of good? Stay tuned, folks. This legislative drama is just getting started.

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2026-01-22 20:18