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Patrick Witt: banks shouldn't fear stablecoin yield; CLARITY Act before 2026 midterms
White House crypto adviser Patrick Witt said banks should not view stablecoin yield offerings as a threat and urged compromise between lenders and crypto platforms. He argued the debate has delayed the CLARITY market structure bill, which defines SEC/CFTC roles, and warned lawmakers face a narrowing window ahead of the 2026 US midterms.