Patrick Witte, Executive Secretary of the U.S. White House Digital Asset Advisory Committee, warned that failing to adopt new digital asset technologies could diminish national competitiveness and cede leadership in related innovations to other countries.
On September 30, Witte made these remarks during a special discussion with Yoon Seon-joo, Chief Brand Impact Officer of Dunamu, at the 'Upbit Institutional Summit' (UIS 2026) held on September 29.
Witte assessed that the advancement of digital asset technology is a trend that cannot be halted by the choices of individual nations. He stated, "Digital assets are already evolving and are part of future finance," explaining that if a country does not embrace related technologies, innovation may shift to other nations.
He added, "Sticking only to traditional methods while pushing away new technologies can reduce competitiveness and allow other countries to take a leading position."
Witte emphasized the need to consider global market alignment during the regulatory design process. Since digital assets are traded across borders, countries must examine the rules being established by others and assess how their regulatory frameworks will position them in the global market.
Regarding South Korea, he viewed the current regulatory overhaul as an opportunity. Witte remarked, "As Korea is also reviewing its own regulations, I believe there is a significant opportunity right now. Countries that create systems conducive to innovation and embrace them will gain corresponding advantages."
He explained that recent U.S. digital asset policies are also part of a preparatory phase. He stressed that the legislative delays surrounding the CLARITY Act do not signify a shift in U.S. policy direction. Witte stated, "Even if legislation does not happen immediately, the current administration's direction is clear," adding, "It is difficult to reverse the changes that have already begun."
Finally, he noted, "Digital assets and traditional finance will ultimately merge," asserting that in the end, it will not be about choosing one over the other, but rather that both will become part of a single financial system.
* This article has been translated by AI.
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