Trump administration to convene banks, crypto firms over CLARITY Act impasse

The Trump administration is moving to break a deadlock over crypto market-structure legislation as lawmakers remain split over stablecoin interest rules.

Officials in US President Donald Trump’s administration are set to meet banking and cryptocurrency executives on Monday as lawmakers try to revive the stalled CLARITY Act.

People familiar with the matter told Reuters the meeting will be hosted by the White House’s crypto council and will bring together industry trade groups to discuss how the bill treats interest and other rewards offered on dollar-pegged stablecoins.

The legislation has been held up in the Senate for months, with a scheduled Banking Committee vote postponed earlier this month amid concerns from lawmakers and industry groups over the stablecoin interest provision.

Read more