White House officials met with representatives from the cryptocurrency and banking industries to discuss a market structure bill under Senate consideration. The meeting aimed to resolve differences regarding stablecoin yield provisions and other key issues.
Ripple CEO Brad Garlinghouse confirmed that his company's chief legal officer attended the session with White House officials. This follows previous discussions on digital asset market structure, including the CLARITY Act, which has faced legislative hurdles.
The proposed legislation, passed by the US House of Representatives, has encountered delays in the Senate due to concerns over conflicts of interest and calls for provisions on decentralized finance and tokenized assets.
Separately, policymakers and crypto industry leaders convened at former President Donald Trump's Mar-a-Lago club for a forum. Senator Bernie Moreno expressed optimism that the CLARITY Act could be signed into law by April.
The market structure bill awaits further markup by the Senate Banking panel. Previous attempts to advance similar legislation faced opposition, notably from Coinbase CEO Brian Armstrong, who raised concerns about proposed restrictions on stablecoin rewards and the balance of regulatory authority between the SEC and CFTC.