U.S. officials met with representatives from the cryptocurrency and banking sectors to discuss the treatment of stablecoin yield within a major market structure bill currently under review in the Senate. The meeting took place more than two weeks after the Senate Banking Committee delayed a planned markup of the Digital Asset Market Clarity (CLARITY) Act, leaving several key issues unresolved.
According to a post on X by The Digital Chamber, its CEO Cody Carbone and other industry participants met at the White House to review outstanding provisions in the CLARITY Act. Lawmakers are still debating a range of topics, including stablecoin rewards, tokenized equities, decentralized finance, and ethical rules governing crypto investments by elected officials.
Carbone described the discussions as an important step forward, saying the meeting helped address one of the major obstacles slowing progress on market structure legislation. He added that continued engagement on policy details could help create a more level regulatory environment for digital assets in the United States.
White House digital assets adviser Patrick Witt characterized the talks as constructive and focused on practical solutions. He expressed confidence that regulators and industry representatives would be able to reach an agreement in the near term. Other groups attending the meeting included the Crypto Council for Innovation, the American Bankers Association, and the Blockchain Association.
The discussions occurred against the backdrop of a partial U.S. government shutdown, which entered its third day after lawmakers failed to agree on a funding bill. The impasse has been compounded by broader political disagreements, including disputes over immigration enforcement policies.
Senate work on crypto market structure continues
Momentum on digital asset legislation remains uneven. The Senate Agriculture Committee passed its version of the market structure bill last week without Democratic backing, after objections were raised over allowing elected officials to hold digital assets.
Both the Senate Banking Committee, responsible for the role of the U.S. Securities and Exchange Commission, and the Agriculture Committee, which oversees the Commodity Futures Trading Commission’s involvement, are expected to reconcile their proposals before any final vote can be held in the full Senate.
