《Reuters》: White House to convene bank and crypto executives next Monday to advance <i>CLARITY Act</i> legislation

BlockBeats News, January 29th, according to Reuters, citing sources familiar with the matter, the White House will hold a meeting on Monday with executives from the banking and cryptocurrency industries to seek a way forward for milestone cryptocurrency legislation (the "CLARITY Act") that has been deadlocked due to the opposing views of the two major industries.

The meeting, hosted by the White House Cryptocurrency Working Group, will invite executives from various industry associations to participate. Sources said the meeting will focus on how the legislation addresses the interest and other benefits provided by cryptocurrency companies to customers holding US dollar-pegged tokens (i.e., stablecoins).

This White House meeting may help the two major industries, which are fiercely at odds over the bill, reach a compromise, while also highlighting the Trump administration's urgent desire to see the legislation passed. Trump actively sought support from the cryptocurrency industry during his campaign and pledged to promote the mainstream adoption of crypto assets.