Crypto Industry Leaders Convene at White House for CLARITY Act Discussions
White House officials hosted cryptocurrency executives over two weeks following the Senate Banking Committee's decision to delay markup proceedings on the CLARITY Act, with all parties committed to continuing collaborative efforts on the legislation.
Representatives from US President Donald Trump's administration conducted a meeting with executives from the digital currency sector and traditional banking institutions to deliberate on approaches for handling stablecoin yield provisions within the market structure legislation currently being reviewed by the Senate.
Through a post shared on X platform Monday, crypto advocacy group The Digital Chamber revealed that CEO Cody Carbone and additional stakeholders participated in White House discussions focusing on specific provisions contained in the Digital Asset Market Clarity (CLARITY) Act, which saw its markup process delayed by the Senate Banking Committee during January. The topics that legislators are anticipated to tackle prior to resuming markup proceedings include tokenized equities, decentralized finance protocols, ethical guidelines governing elected officials' cryptocurrency investments, and rewards associated with stablecoins.
"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," said Carbone, adding:
"We [...] are optimistic that as we continue to dive into the policy details, a fair playing field can be created for digital assets in the US."
The Senate Banking Committee, which is responsible for determining how the US Securities and Exchange Commission will regulate and supervise digital assets, along with the Senate Agriculture Committee, which manages initiatives involving the Commodity Futures Trading Commission, will probably need to merge their respective legislative proposals before the complete chamber can proceed with a floor vote.
Last week, the agriculture committee successfully advanced their iteration of the market structure legislation without receiving any Democratic support, as members of that party expressed concerns regarding elected officials maintaining holdings in digital assets.
This is a developing story, and further information will be added as it becomes available.