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Patrick Witte, the Executive Director of the White House Digital Assets Presidential Advisory Committee, stated on Monday that substantive progress is being made in Senate negotiations surrounding the Clarity Act, with a compromise reached on the issue of stablecoin yields expected to hold, and the focus of negotiations has shifted to other unresolved topics.The issue of stablecoin yields was previously the biggest obstacle to advancing the bill. Banking lobbyists successfully persuaded some senators that providing yields similar to bank interest to stablecoin holders would threaten the traditional banking deposit base, causing the bill to reach an impasse. Witte stated, "We hope that the compromise reached will be durable and stable. Resolving this issue is a prerequisite for advancing other pending matters." Last week, the White House economic advisors released a report downplaying the risk concerns raised by the banking industry; in response, the American Bankers Association rebutted on Monday, claiming the White House's arguments were flawed.In addition to stablecoin yields, the bill also faces several disagreements, including illegal financial protection mechanisms in the DeFi space and a demand from Democrats to prohibit senior government officials (specifically targeting President Trump) from profiting from the crypto industry. Witte did not disclose which topics have reached consensus but indicated that negotiations have "made considerable progress behind the scenes," stating, "We are very close to comprehensively resolving these issues." The Clarity Act still needs to go through the Senate Banking Committee's markup review process before being submitted for a full Senate vote. Witte expressed optimism about reaching a final agreement, noting that many issues that previously seemed stuck have gradually been resolved.

According to market news, former President Obama's campaign manager Stephanie Cutter has joined Kalshi as a policy advisor.

The RWA tokenization platform OpenEden announced on platform X that all team and advisor tokens will continue to be locked for 9 months, and the overall unlocking period will also be extended by the same duration. Therefore, the unlocking period for all team and advisor tokens will be postponed to January 2027.

According to Forbes, Plume's legal advisor B. Salman Banaei testified before Congress, strongly urging the U.S. Securities and Exchange Commission (SEC) to expedite the development of tokenization rules while advancing the full ATS (Alternative Trading System) registration for DeFi protocols, rather than relying solely on "innovation exemptions."Banaei criticized the SEC for "putting all its eggs in one basket with innovation exemptions," calling this approach "foolish," and warned that setting volume and product limitations would fail to attract large institutions, "because they will not invest resources in an infrastructure that may not exist in two or three years." He also suggested that the SEC seek feedback on the current incompatibilities in the rules and develop permanent solutions.Plume was approved by the SEC in October 2025 to become a registered transfer agent, capable of handling shareholder records, transfers, and dividends for on-chain tokenized securities, and is currently awaiting a FINRA broker-dealer license. Banaei pointed out that there are only 10 months left in the current SEC leadership window, and action must be taken quickly to promote the development of real-world asset (RWA) tokenization.

Mohsen Rezaei, the new military advisor to Iran's Supreme Leader, emphasized in an interview released by Iranian state television on March 23 that Iran will not stop the war until it receives all compensations, all economic sanctions are lifted, and it obtains international legal guarantees against U.S. interference in Iranian affairs.Rezaei also stressed that the dispute between Iran and the U.S. is not only about the current conflict or last year's attacks by the U.S. and Israel on Iran, but has been ongoing for 47 years since the victory of the Iranian Islamic Revolution in 1979, and it must be "brought to an end."

OnGreen, the Web3-enabled platform bridging green technology with MENA's transformation needs, today announced the appointment of Abbie Tsang as an Advisor. Abbie brings over 15 years of business development leadership, most notably as Head of SME Business Development at American Express Hong Kong, where she delivered 190% portfolio growth and consistently exceeded sales targets by 275%. A Certified ESG Planner, Abbie merges growth strategy with sustainability metrics, helping organizations unlock new market opportunities while mitigating risk. Her expertise spans go-to-market strategy, strategic partnerships, and purpose-led client solutions. At OnGreen, Abbie will lead partnership expansion, connecting ESG experts, industry associations, investors, and enterprises. She will advise on B2B client acquisition and spearhead commercialization of OnGreen platform's cutting-edge suite of services. "I have spent my career helping businesses grow by aligning commercial strategy with market needs," said Abbie. "What excites me about OnGreen is applying this experience to something truly transformative. By bringing together ESG expertise, strategic partners, and enterprise clients, we can accelerate OnGreen's technology adoption across MENA—creating synergy that delivers both environmental impact and tangible business value."

According to The Block, Patrick Witt, Executive Director of the U.S. Presidential Advisory Council on Digital Assets, stated on the X platform that stablecoins compliant with the GENIUS Act framework will actually bring deposit inflows to the U.S. banking system, rather than siphoning off deposits as warned by the banking industry.Witt pointed out that there is a huge global demand for the U.S. dollar, with foreigners exchanging local currencies for stablecoins issued by U.S. entities, which means new net capital is entering the U.S. banking system. Earlier this month, Witt also mentioned that paying yields on balances does not necessarily require bank-like regulation; what truly needs regulation is the lending or re-collateralization of the dollars that make up the balances, and the GENIUS Act explicitly prohibits stablecoin issuers from engaging in the latter.

According to The Block, in response to JPMorgan CEO Jamie Dimon's recent comments on stablecoin yields, White House digital asset advisor Patrick Witt offered a rebuttal.Dimon previously stated that platforms paying stablecoin yields should be regulated like banks, as "holding balances and paying interest" constitutes banking. Witt responded on the X platform, claiming that Dimon's statement is misleading.He pointed out that it is not the payment of yield on balances that requires bank-like regulation, but rather the lending or re-collateralization of the dollars that make up the underlying balances. The GENIUS Act explicitly prohibits stablecoin issuers from engaging in the latter, so stablecoin balances should not be equated with bank deposits.

Bloomberg analyst James Seyffart posted on X platform that institutional investors submitting 13F reports to the U.S. Securities and Exchange Commission reduced their Bitcoin ETF positions in the fourth quarter of 2025, with investment advisory firms and hedge funds being the two largest categories of institutions by position size, becoming the main sellers in the market.Overall, the reporting institutional investors that submitted 13F reports sold a total equivalent to approximately 25,000 Bitcoin worth of ETF shares in the fourth quarter of 2025.

According to The Block, Taylor Lindman, former Deputy General Counsel of Chainlink Labs, has officially joined the U.S. Securities and Exchange Commission (SEC) this Monday as the Chief Legal Advisor for the agency's cryptocurrency working group.Lindman succeeds former member Michael Selig, who is now the Chairman of the U.S. Commodity Futures Trading Commission (CFTC). Reportedly, during his more than five years at Chainlink, Lindman held several senior legal positions and gained extensive experience in the oracle network and smart contract data infrastructure within the institutional finance sector. The SEC cryptocurrency working group, led by Commissioner Hester Peirce, was established last year to explore various aspects of regulating tokenization and decentralized finance through multiple rounds of roundtable discussions.

The U.S. Securities and Exchange Commission (SEC) announced that former Chainlink Labs Deputy General Counsel Taylor Lindman has joined the SEC as the Chief Legal Counsel for the Crypto Task Force, succeeding Michael Selig, who was recently promoted to Chairman of the Commodity Futures Trading Commission (CFTC).Lindman worked at Chainlink for over five years, primarily responsible for legal matters related to the oracle network and smart contract data infrastructure. The SEC's Crypto Task Force was established last year, focusing on regulatory discussions around tokenization and decentralized finance, aiming to advance the development of a regulatory framework for cryptocurrency in the U.S.

The Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Michael S. Selig, announced the establishment of the Innovation Advisory Committee (IAC) and appointed 35 members to provide recommendations on the regulation of breakthrough technologies such as artificial intelligence and blockchain.Committee members include representatives from blockchain projects such as Vivek Raman of Etherealize, Anatoly Yakovenko of Solana Labs, and Brad Garlinghouse of Ripple, as well as executives from major crypto trading platforms like Coinbase, Crypto.com, and Gemini. Founders of prediction markets Polymarket and Kalshi, as well as representatives from well-known venture capital firms like a16z crypto and Framework Ventures, are also included. Selig stated that the committee will assist the CFTC in developing rules that adapt to market realities, paving the way for a "golden age of American financial markets."

According to The Block, Michael S. Selig, chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced the establishment of an innovation advisory committee consisting of 35 members, with several executives from the cryptocurrency industry appointed.Selig stated that the committee will assist the CFTC in developing a regulatory framework regarding the role of "breakthrough technologies" such as artificial intelligence and blockchain in financial markets, ensuring that its decisions reflect market realities and establishing clear rules for "a golden age of American financial markets." The committee members include representatives from blockchain projects, such as Vivek Raman from Etherealize, Anatoly Yakovenko from Solana Labs, Brad Garlinghouse from Ripple, Sergey Nazarov, CEO of Chainlink Labs, and Hayden Adams, CEO of Uniswap Labs.In terms of centralized exchanges, executives from Bullish, Coinbase, Crypto.com, Gemini, Kraken, Bitnomial, and Robinhood are included. Shayne Coplan, founder of the prediction market platform Polymarket, and Tarek Mansour, founder of Kalshi, have also been appointed. Chris Dixon from a16z crypto, Vance Spencer from Framework Ventures, and Alana Palmedo from Paradigm are also on the list. The committee also includes representatives from traditional financial institutions such as Cboe, CME, DTCC, Nasdaq, and options clearing companies.

According to CoinDesk, former Chairman of the U.S. House Financial Services Committee Patrick McHenry and White House advisor Patrick Witt stated at the Ondo Summit in New York that U.S. cryptocurrency legislation is accelerating, with a comprehensive cryptocurrency market structure bill expected to be passed in the coming months.Patrick McHenry predicted that the final version may be submitted to the President for signing around Memorial Day (May 25). Patrick Witt revealed that Trump has prioritized this legislation, and the White House is pushing for negotiations between banks and crypto companies, with drafting teams exchanging drafts. Both parties noted that stablecoin yields are the biggest point of contention, with the industry reaching a consensus on banning fraudulent promotions, but differing on whether centralized exchanges can pay passive yields.Patrick McHenry emphasized that without including DeFi, the market structure legislation would "not hold up." He pointed out that tokenized lending products have lower costs than traditional securities lending, indicating strong market demand. Regarding ethical standards, both believed that overly restricting the scope of proposals for officials' spouses is too broad, but a more precise compromise could still gain bipartisan support.Patrick Witt stated that the White House's goal is to translate high-level principles into specific legal text and reach a final agreement that can withstand scrutiny from both the House and Senate.

Investment firm Variant's Chief Legal Officer Jake Chervinsky posted on the X platform: "Today is my last day working full-time at the company, after which I will transition to an advisory role."

According to Cointelegraph, the prediction market platform Kalshi announced the establishment of an independent advisory board and partnerships to enhance platform regulation and prevent insider trading and market manipulation. This initiative was announced three days before the Super Bowl in the United States, and the platform has already attracted over $168 million in Super Bowl-related bets.Kalshi stated that the committee will provide quarterly reports to the company's external legal advisors and publish statistics on investigations of suspicious activities. At the same time, Kalshi is collaborating with the cryptocurrency trading monitoring platform Solidus Labs and Daniel Taylor, the director of the Wharton School's forensic analysis lab, to "detect, investigate, and address market abuse."

The Executive Director of the U.S. Presidential Advisory Committee on Digital Assets, Patrick Witt, stated that the White House will not accept provisions in the cryptocurrency market structure legislation that directly target President Trump or his family's digital asset businesses, as such content has been clearly marked as a "red line."Witt mentioned that the anti-corruption or ethical provisions previously proposed by some Democratic lawmakers are "completely unacceptable," emphasizing that the core of the bill is the regulation of the cryptocurrency market, not ethical scrutiny. He expressed hope that the Democratic side could propose a more "reasonable and negotiable" version to advance the legislation.Witt also pointed out that the current primary goal of the White House is to facilitate a bill that can be submitted for the President's signature, while seeking a compromise amid the disagreements between the banking sector and the cryptocurrency industry regarding stablecoin revenues. However, he also admitted that the Democratic demand to restrict government officials and their families from participating in the cryptocurrency industry remains one of the main obstacles to advancing the legislation.

According to The Block, the Avalanche Policy Alliance has announced the establishment of a new advisory committee, which will be led by Ava Labs' General Counsel Lee Schneider. The members include UK House of Lords member Chris Holmes and several senior figures within the Avalanche ecosystem.The advisory committee will focus on three core issues in 2026: global token classification and intermediary definitions, and internet access protection. Schneider stated that the inspiration for the committee's formation comes from the four major entities already present in the Avalanche ecosystem (Ava Labs, the Avalanche Foundation, and two treasury companies), aiming to ensure a unified effort across the ecosystem from a policy perspective and to promote the broader development of the blockchain and crypto industry.Schneider emphasized that global regulatory coordination is crucial; while the rules in different jurisdictions do not need to be identical, establishing common overarching principles will help the industry's development. He pointed out that if the regulatory differences among major jurisdictions are too great, blockchain or crypto companies will face operational disconnection when expanding into new markets or launching globally applicable products.

U.S. Senator Elizabeth Warren is calling for Congress to hold hearings on the $500 million acquisition of WLFI equity by UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan. Reports indicate that the transaction documents were signed by Eric Trump, with approximately $187 million flowing directly into entities related to the Trump family, and at least $31 million going to entities associated with Trump ally Steve Witkoff.Elizabeth Warren stated that this move is "purely a corrupt act" and urged the Trump administration to rescind its decision to sell sensitive artificial intelligence chips to the UAE. She also called for Trump administration officials, including Steve Witkoff, David Sacks, and Commerce Secretary Howard Lutnick, to testify before Congress on related issues, claiming that they jeopardize U.S. national security for the benefit of a president-associated cryptocurrency company.