Officials in the Trump administration recently met with cryptocurrency and banking industry representatives at the White House to discuss how stablecoin yield should be handled in the Digital Asset Market Clarity (CLARITY) Act, a market structure bill now before the Senate.
The Digital Chamber said its CEO Cody Carbone and others attended the meeting to review provisions in the CLARITY Act, whose markup in the Senate Banking Committee was postponed in January. Lawmakers are expected to resolve several outstanding issues before resuming markup, including tokenized equities, decentralized finance (DeFi), ethics rules for elected officials holding digital assets, and how stablecoin rewards are treated.
Carbone described the meeting as the kind of progress needed to clear one of the main obstacles slowing market-structure legislation, and said attendees were optimistic about creating an even playing field for digital assets as policy details are worked out. White House crypto adviser Patrick Witt called the session “constructive, fact-based” and “solutions-oriented,” and expressed confidence that a resolution would be reached soon.
Other participants included representatives from the Crypto Council for Innovation, the American Bankers Association, and the Blockchain Association.
The discussions took place as a partial U.S. government shutdown began, after lawmakers failed to agree on a funding measure. Several Democrats have pushed for changes to immigration enforcement policy following recent actions by ICE and Border Patrol in U.S. cities, including Minneapolis.
Separately on Capitol Hill, the Senate Agriculture Committee last week advanced its version of the market structure bill without Democratic support; Democrats objected to provisions related to elected officials holding digital assets. The Senate Banking Committee, which is considering SEC oversight of digital assets, and the Agriculture Committee, which is handling CFTC-related elements, will likely need to reconcile their respective bills before the full Senate can vote.
This report summarizes the meeting and the surrounding legislative context; readers are encouraged to consult primary sources and official statements for confirmation and further details.