White House to Convene Meeting with Banking and Crypto Industry Executives Next Monday to Advance the "CLARITY Act"

Odaily According to reports, the White House plans to convene a meeting with banking and cryptocurrency industry executives next Monday in an attempt to find a path forward for the landmark crypto legislation, the "CLARITY Act," which is currently deadlocked due to opposing stances between the two major industries.

The report states that the meeting will be chaired by the White House Crypto Committee, with executives from multiple industry associations invited to attend. The discussion will focus on how the bill regulates arrangements for interest and other earnings generated by dollar-pegged tokens (stablecoins) held by crypto companies on behalf of clients. Analysis suggests that this meeting may help alleviate disagreements between the banking and crypto industries over relevant provisions and also reflects the Trump administration's desire to push for quicker progress on the bill. (Reuters)