Officials in President Donald Trump’s administration met with cryptocurrency and banking industry representatives to discuss how stablecoin yield should be treated in the market structure bill under Senate consideration.
The Digital Chamber, a crypto advocacy group, said in a Monday X post that its CEO Cody Carbone and others met at the White House to talk about provisions in the Digital Asset Market Clarity (CLARITY) Act, whose markup in the Senate Banking Committee was postponed in January. Lawmakers are expected to resolve issues including tokenized equities, decentralized finance, ethics rules for elected officials investing in crypto, and stablecoin rewards before returning to markup.
“Today’s meeting at the White House was exactly the kind of progress needed to find a resolution to one of the biggest issues blocking next steps in market structure legislative progress,” Carbone said, adding that they are optimistic a fair playing field for digital assets in the U.S. can be created as policy details are worked through.
White House crypto adviser Patrick Witt described the meeting as “constructive, fact-based” and “solutions-oriented,” and said he was confident a resolution would be reached soon. Attendees also included representatives from the Crypto Council for Innovation, the American Bankers Association, and the Blockchain Association.
The meeting occurred as a partial U.S. government shutdown entered its third day after lawmakers failed to agree on a funding bill. Many Democrats have sought changes to immigration enforcement policy following actions by ICE and Border Patrol in U.S. cities, including Minneapolis.
Market structure moving forward in Senate
The Senate Agriculture Committee last week passed its version of the market structure bill without Democratic support; Democrats objected to provisions about elected officials holding digital assets. The Senate Banking Committee, which is considering SEC oversight of digital assets, and the Agriculture Committee, handling CFTC-related efforts, will likely need to reconcile their bills before the full Senate can vote.
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