Patrick Witt Mediates US Stablecoin Yield Clash as CLARITY Act Faces February 2026 Deadline

On 14 February 2026, Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets, emerged as a key mediator in the dispute between major banks and crypto firms over stablecoin yields that is stalling the CLARITY Act of 2025. He argues that yield-bearing stablecoins are not a systemic threat, backs a narrow fix focused on "idle yield," and is pushing both sides to reach a compromise by the end of February 2026 as the midterm election window tightens.