WHITE HOUSE WON'T TOLERATE ATTACKS ON THE PRESIDENT IN CRYPTO BILL

Summary from the TLDR Crypto newsletter

President Trump's digital assets adviser Patrick Witt said that the White House has drawn "red lines" against crypto market structure legislation that targets the president or his family members over crypto business ties, calling earlier Democratic proposals from Senator Adam Schiff "completely outrageous" while insisting "this is not an ethics bill." The standoff over Democrats' demand for provisions banning top government officials from cashing in on the crypto industry is holding up the industry's chief policy goal in Washington, with Democratic lawmakers planning to meet Wednesday to continue negotiations after a Senate Banking Committee hearing collapsed on January 14. Separately, Witt led a Monday meeting between crypto policy experts and banking industry representatives where digital asset insiders were left frustrated that bankers hadn't offered solutions on stablecoin yield disagreements, as the White House attempts to "broker a deal" between banks protecting deposit businesses and stablecoin product advancement.